Vargas Company Purchased a Computer for $3,000 on January 1,Year

question 105

Multiple Choice

Vargas Company purchased a computer for $3,000 on January 1,Year 1.The computer is estimated to have a 5-year useful life and a $500 salvage value.What adjusting entry would Vargas record on December 31,Year 1 to recognize expense related to use of the computer?

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Definitions:

Property Owners

Individuals or entities that hold legal title to land, buildings, or other types of real estate.

Poverty Line

The lowest amount of money required to maintain a satisfactory quality of life in a specific country.

Poverty Rate

The proportion of a population living under the poverty line, illustrating the percentage of people whose income falls below a specific threshold.

Employment Discrimination

The unfair treatment of employees or job applicants based on race, gender, age, religion, nationality, disability, or other protected characteristics.