Tina's Event Planning Bought a Computer Worth $3,500 with an Expected

question 86

Multiple Choice

Tina's Event Planning bought a computer worth $3,500 with an expected life of 5 years and a residual value of $750.What is the adjusting journal entry after the first year?

• A)
• \[\begin{array} { | c | l | }
• \hline \text { Computer } & 550 \\
• \hline \text { Depreciation Expense } & 550 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | l | }
• \hline \text { Computer } & 550 \\
• \hline \text { Accumulated Depreciation, Computer } & 550 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | l | }
• \hline \text { Depreciation Expense } & 550 \\
• \hline \text { Accumulated Depreciation, Computer } & 550 \\
• \hline
• \end{array}\]
• D)
• \[\begin{array} { | c | l | }
• \hline \text {Depreciation Expense} & 550 \\
• \hline \text { Computer} & 550 \\
• \hline
• \end{array}\]