If a Fixed Asset,such as a Computer,were Purchased on January

question 96

Multiple Choice

If a fixed asset,such as a computer,were purchased on January 1 for $3,750 with an estimated life of three years and a salvage or residual value of $150,the journal entry for monthly expense under straight-line depreciation is

• A)Depreciation Expense 100Accumulated Depreciation 100
• B)Depreciation Expense 1,200Accumulated Depreciation 1,200
• C)Accumulated Depreciation 1,200Depreciation Expense 1,200
• D)Accumulated Depreciation 100Depreciation Expense 100

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Abstract

A brief summary of a research article, thesis, review, or other document, outlining the main points and conclusions.