The Pitter Corporation Purchased a Notebook Computer for $3,000 on December

question 38

Multiple Choice

The Pitter Corporation purchased a notebook computer for $3,000 on December 1. The useful life of the notebook computer is estimated to be 5 years. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:

• A) debit depreciation expense, $600; credit accumulated depreciation, $600.
• B) debit depreciation expense, $50; credit accumulated depreciation, $50.
• C) debit depreciation expense, $2,400; credit accumulated depreciation, $2,400.
• D) debit office equipment, $50; credit accumulated depreciation, $50.

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Definitions:

Cognitive Dissonance

A psychological phenomenon where an individual experiences discomfort resulting from conflicting beliefs, behaviors, or attitudes.

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The psychological discomfort experienced when holding two or more conflicting thoughts, beliefs, or attitudes.