A Company Purchased Factory Equipment on June 1 2022 for $128000.It

question 59

Multiple Choice

A company purchased factory equipment on June 1 2022 for $128000.It is estimated that the equipment will have a $8000 salvage value at the end of its 10-year useful life.Using the straight-line method of depreciation the amount to be recorded as depreciation expense at December 31 2022 is

• A)$12000.
• B)$7000.
• C)$6000.
• D)$5000.

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Definitions:

Biological Perspective

An approach in psychology and biology that examines behaviors, emotions, and thoughts in terms of biological factors, such as genetics, brain circuits, and chemicals.

Cognitive Perspective

An approach in psychology that focuses on how people perceive, think about, and remember information, often emphasizing the role of mental processes in behavior and development.

Mind

The set of cognitive faculties that enables consciousness, perception, thinking, judgement, and memory—a characteristic of humans and other animals.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, enriching its social fabric.