If a Fixed Asset, Such as a Computer, Were Purchased $\quad$

question 118

Multiple Choice

If a fixed asset, such as a computer, were purchased on January 1st for $3,750 with an estimated life of 3 years and a salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is:
(Note: EOM indicates the last day of each month.)

• A) EOM Depreciation Expense\(\quad\)100
• Accumulated Depreciation\(\quad\)100
• B)EOM Depreciation Expense \(\quad 1,200\)
• Accumulated Depreciation\(\quad\)1,200
• C) EOM Accumulated Depreciation\(\quad\)1,200
• Depreciation Expense\(\quad\)1,200
• D)EOM Accumulated Depreciation\(\quad\)100
• Depreciation Expense\(\quad\)100

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Definitions:

Chemical Kinetics

The study of the rates at which chemical reactions proceed and the factors affecting those rates.

Collision Theory

A theory that proposes chemical reactions occur and proceed at a certain rate based on the concentration, velocity, and orientation of reacting particles during collisions.

Rate Of Formation

The speed at which a product is created in a chemical reaction, usually measured in moles per liter per second.

High-energy Particles

Particles that possess energy significantly greater than average, often referring to subatomic particles such as protons, neutrons, and cosmic rays.