Bonnie Jo Purchased a Used Computer (5-Year Property) for Use

question 8

Multiple Choice

Bonnie Jo purchased a used computer (5-year property) for use in her sole proprietorship. The basis of the computer was $2,400. Bonnie Jo used the computer in her business 60 percent of the time and used it for personal purposes the rest of the time during the first year. Calculate Bonnie Jo's depreciation expense during the first year assuming the sole proprietorship had a loss during the year (Bonnie did not place the property in service in the last quarter) :

• A) $240
• B) $288
• C) $480
• D) $2,400
• E) None of these

---

Definitions:

Cultural Values

The core principles and ideals upon which an entire community exists, reflecting beliefs, preferences, and behaviors that are common in a society.

Local Culture

The set of shared attitudes, values, goals, practices, and traditions that characterize a group of people or a geographical area.

Americanization

The process through which American culture, values, and practices are adopted by other countries or individuals.

Mass Consumption

The large-scale purchasing and use of goods and services by a significant portion of a population.