Net Income for Parton Company for 2014 Includes the Effect

question 12

Multiple Choice

Net income for Parton Company for 2014 includes the effect of the following transactions involving the sale of fixed assets:

Purchases of fixed assets during 2014 amounted to $340,000.The Accumulated Depreciation account increased $40,000 during 2014.How much was depreciation expense for 2014?

• A)$175,000
• B)$187,000
• C)$197,000
• D)$215,000

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Definitions:

Cognitive

Pertains to the mental processes involved in gaining knowledge and comprehension, including thinking, knowing, remembering, judging, and problem-solving.

Mechanical

Pertaining to machines or the principles of machinery and engineering.

Model

A representation, either physical, mathematical, or conceptual, used to describe or simulate a process, concept, or entity.

Cognitive Explanation

An understanding that focuses on internal mental processes such as perception, memory, thought, and problem-solving to explain behavior.