Switzer, Inc

question 12

Multiple Choice

Switzer, Inc.has 8 computers which have been part of the inventory for over two years.Each computer cost $600 and originally retailed for $900.At the statement date, each computer has a net realizable value of $400.How much loss should Switzer, Inc., record for the year?

• A)$1,600.
• B)$2,400.
• C)$3,200.
• D)$4,000.

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Definitions:

Groundwater

Water that fills the cracks and spaces in underground soil and rock layers, accounting for a significant portion of the Earth's fresh water.

Saltation

A process in which wind-blown or water-borne particles are lifted briefly into the air or water and then settle back down, causing a hopping or skipping motion.

Hydrologic Cycle

The hydrologic cycle describes the continuous movement of water on, above, and below the surface of the Earth, through processes such as evaporation, condensation, precipitation, and infiltration.

Groundwater

Water held underground in the soil or in pores and crevices in rock.