Vargas Company purchased a computer for $3,000 on January 1,2016.The computer is estimated to have a 5-year useful life and a $500 salvage value.What adjusting entry would Vargas record on December 31,2016 to recognize expense related to use of the computer?
Definitions:
Declarative
Pertaining to knowledge that can be consciously recalled and articulated, such as facts or information.
Procedural
refers to a method or process in the execution of actions or operation of systems, often opposed to declarative knowledge which is about facts or things known.
Self-efficacy
An individual’s belief in their capacity to execute behaviors necessary to produce specific performance attainments, shaping how they think, feel, and act.
Declarative
Pertaining to the ability to consciously recall facts and knowledge, part of explicit memory.
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