Hercules Company Purchased a Computer for $3,600 on December 1

question 79

Multiple Choice

Hercules Company purchased a computer for $3,600 on December 1.It is estimated that annual depreciation on the computer will be $720.If financial statements are to be prepared on December 31, the company should make the following adjusting entry:

• A)Debit Depreciation Expense, $720; Credit Accumulated Depreciation, $720.
• B)Debit Depreciation Expense, $60; Credit Accumulated Depreciation, $60.
• C)Debit Depreciation Expense, $2,880; Credit Accumulated Depreciation, $2,880.
• D)Debit Office Equipment, $3,600; Credit Accumulated Depreciation, $3,600.

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Definitions:

Commissions

Payments or earnings based on a percentage of the sales made by a salesperson or agent.

Median

The middle value in a data set when the values are arranged in ascending or descending order; if there is an even number of observations, it is the average of the two middle values.

Poker Players

Individuals who engage in the card game poker, either as a hobby or professionally.

Skewed

describes a distribution that is asymmetrical, with a majority of values lying to one side of the mean.