A Firm Purchased an Office Machine for $4,600, Estimated That

question 48

Multiple Choice

A firm purchased an office machine for $4,600, estimated that it will use the machine for 15 years, and estimated a salvage value of $100.On December 31 of the sixth year, before closing the books for the year, the firm analyzed its estimates of useful life and salvage value.In light of new information, the firm estimated that the machine will have a total useful life of only 10 years, and the salvage estimate of $100 remains reasonable. The new estimate of the remaining life is five years (the year just ended plus the next four) .The depreciation entry on December 31 of the sixth year and each year thereafter is:

• A)Depreciation Expense............ 300
• Accumulated Depreciation ......................300
• B)Depreciation Expense...................... 600
• Accumulated Depreciation ...................600
• C)Accumulated Depreciation .................300
• Depreciation Expense........................... 300
• D)Accumulated Depreciation ...................600
• Depreciation Expense......................... 600
• E)none of the above

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Definitions:

Dependent Samples

Pairs of samples where the members are matched or related, often used in experiments to compare two conditions or treatments.

Pretest and Posttest

Assessments administered before and after an intervention or experiment to measure the impact of the intervention.

Dependent-Samples T Test

A statistical test used when comparing the means of two related groups.

Statistical Technique

A method or procedure used in the analysis of data to uncover patterns, trends, or relationships.