Lexis Company Purchased Equipment on January 1,2012 for $35,500

question 129

Multiple Choice

Lexis Company purchased equipment on January 1,2012 for $35,500.The estimated useful life of the equipment was 7 years and the estimated residual value was $4,000.After using the straight-line method of depreciation for 3 years,the estimated useful life was revised to 9 years on January 1,2015.How much is depreciation expense for 2015?

• A) $2,444
• B) $3,000
• C) $2,000
• D) $3,667

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Definitions:

Field-Dependent

A cognitive style where individuals are more likely to rely on external references for processing information and solving problems.

Studying Alone

The practice of learning or reviewing material by oneself without the direct involvement of teachers or peers.

Individual Differences

Individual differences entail the variations or deviations among individuals in regard to a particular characteristic or trait.

Systematic Variation

The deliberate manipulation or alteration of variables in an experiment to observe effects on outcomes, often used in scientific research.