Hank's Tax Planning Service Bought Communications Equipment for $7,200 on January

question 117

Essay

Hank's Tax Planning Service bought communications equipment for $7,200 on January 1,2012.It has an estimated useful life of 5 years.Hank records depreciation monthly.
-As of June 30,2012,the balance in the Accumulated depreciation account for this equipment is:
A) $1,440.
B) $600.
C) $120.
D) $720.

• A) $1,440.
• B) $600.
• C) $120.
• D) $720.

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Definitions:

Heberden Nodes

Hard or bony swellings that can form on the distal interphalangeal joints, commonly associated with osteoarthritis.

Dupuytren Contractures

A condition where the fingers bend towards the palm and cannot be fully extended, due to thickening and shortening of the palmar fascia.

Herniated Nucleus Pulposus

Herniated nucleus pulposus refers to a condition where the inner gel-like core of a spinal disc protrudes through its outer layer, potentially causing back pain and nerve irritation.

Lateral Tilting

Involves positioning a patient so that their body is tilted to one side or the other, often used in medical and therapeutic settings to facilitate certain procedures or promote comfort.