5.03 Prototype Assessment Items
These prototype assessment items illustrate the types of items used in the item bank for this objective. All items have been written to match the cognitive process of the apply verb in the objectives. These exact questions will not be used on the secure postassessment, but questions in similar formats will be used.
Calculating Straight-Line Depreciation
1. Kelly's Keying purchased a computer on January 1, 2010 for $3,700.00. The estimated salvage (disposal) value is $200.00 and the estimated useful life is 5 years. What is the annual depreciation expense?
A. $200.00
B. $340.00
C. $700.00
D. $740.00
Answer:
Calculating a Partial Year’s Depreciation
2. Carl's Computing Services purchased a computer on July 1, 2010 for $3,500.00. The estimated salvage (disposal) value is $500.00 and the estimated useful life is 5 years. What is the depreciation expense for 2010?
A. $250.00
B. $300.00
C. $500.00
D. $600.00
Answer:
Calculating Accumulated Depreciation
3. Carol's Computer Services purchased a computer on January 1, 2009 for $3,700.00. The estimated salvage (disposal) value is $300.00 and the estimated useful life is 5 years. What is the accumulated depreciation at the end of 2011?
A. $680.00
B. $740.00
C. $1,360.00
D. $2,040.00
Answer:
5.03 Prototype Assessment Items – Page 2
Journalizing Depreciation Expense
4. Carl's Computing Services has depreciation expense of $4,600.00 at the end of the fiscal year. What is the entry to journalize the depreciation expense?
A. Debit Accumulated Depreciation $4,600.00; Credit Depreciation Expense $4,600.00
B. Debit Depreciation Expense $4,600.00; Credit Accumulated Depreciation $4,600.00
C. Debit Depreciation Expense $4,600.00; Credit Equipment $4,600.00
D. Debit Equipment $4,600.00; Credit Accumulated Depreciation $4,600.00
Answer: