Amanda Company Purchased a Computer That Cost $10,000

question 127

Multiple Choice

Amanda Company purchased a computer that cost $10,000.It had an estimated useful life of five years and a residual value of $1,000.The computer was depreciated by the straight-line method and was sold at the end of the third year of use for $5,000 cash. How much of a gain or loss should Amanda record?

• A)A gain of $1,000.
• B)A loss of $5,000.
• C)A gain of $400.
• D)A loss of $400.

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Definitions:

Self-Definition

Cluster of characteristics used to describe oneself.

Temper

A personality trait reflecting the typical mood or emotional state of an individual, affecting their response to situations.

Self-Regulation

A child’s independent control of behavior to conform to understood social expectations.

Sibling Relationships

The dynamic and interactions between brothers and sisters, which can greatly affect individual development and family dynamics.