Agnes Purchased a Computer for $2,240

question 1

Multiple Choice

Agnes purchased a computer for $2,240.It has an estimated useful life of four years and an estimated residual value of $240.The entry to record the depreciation charge for the first year using the double-declining-balance method is:

---

Definitions:

Motor Oil

A lubricant used in internal combustion engines to reduce wear on moving parts, clean, and cool the engine.

Gasoline

A volatile fuel used primarily in internal combustion engines.

Revealed Preference

A theory in economics that assumes the preferences of consumers can be revealed by their purchasing habits.

Prices

The amounts of money expected, required, or given in payment for goods or services.