Henry Tax Planning Service Bought Communications Equipment for $9,600 on January

question 124

Multiple Choice

Henry Tax Planning Service bought communications equipment for $9,600 on January 1, 2015. It has an estimated useful life of 5 years and zero residual value. Henry uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. As of June 30, 2015, the balance in the Accumulated Depreciation account for this equipment is:

• A)$160.
• B)$1,920.
• C)$800.
• D)$960.

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Definitions:

Theory Y

A management theory holding that employees are self-motivated, seek responsibility, and can solve work problems creatively.

Expectancy Theory

A motivational theory suggesting that individuals are motivated to act in certain ways based on the expectation that their actions will lead to desired outcomes.