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2. On January 15, 2020, XYZ Company purchased an equipment of 20,000 JOD that expected to have five-year useful life with salvage value of 5,000

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2. On January 15, 2020, XYZ Company purchased an equipment of 20,000 JOD that expected to have five-year useful life with salvage value of 5,000 JOD, ABC Company using the straight-line method to calculate the depreciation. B. Explain how the purchasing of the equipment will be affecting the three financial statements on December 31, 2020

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