Vargas Company Purchased a Computer for $3,000 on January 1,Year

question 81

Multiple Choice

Vargas Company purchased a computer for $3,000 on January 1,Year 1.The computer is estimated to have a 5-year useful life and a $500 salvage value.What adjusting entry would Vargas record on December 31,Year 1 to recognize expense related to use of the computer?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Depreciation Experse } & 600 & \\
• \hline \text { Accurmlated Depreciation } & & 600 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Depreciation Experse } & 500 & \\
• \hline \text { Cormputer } & & 500 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Depreciation Experse } & 500 & \\
• \hline \text { Accurmlated Depreciation } & & 500 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Accurmulated Depreciation } & 500 & \\
• \hline \text { Depreciation Experse } & & 500 \\
• \hline
• \end{array}\]

Appreciate the importance and function of competition in market economies.

Learn about the economic transition experiences of countries such as Russia and China from planned to market economies.

Understand the economic implications of external costs and benefits and how they relate to market efficiency and failure.

Gain insights into the economic models and their use in simplifying and understanding real-world economic phenomena.

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Definitions:

Specific Results

Outcome or achievements that are clearly defined and quantifiable.

Policies

Formal guidelines or rules established by organizations to govern their operations and decision-making processes.

Planning Function

A fundamental management activity that involves setting objectives and determining appropriate strategies and actions to achieve them.