Question
when the handwriting is not good.i can not really see so please write it neatly. Jo purchased a computer on January 1 st , 2020
when the handwriting is not good.i can not really see so please write it neatly.
Jo purchased a computer on January 1st, 2020 and paid 12,000 RMB, she plans to use this computer for a total of 5 years, with an expected residual value by the end of the 5th year of 2,000 RMB. Please answer the following: (1) whats Jos journal entry on January 1st, 2020 when she initially purchased the computer? (2) If Jo prepares her set of financial statements per year, with December 31st being the closing date each year. Whats her period-end adjusting entry relating to the purchase of computer on December 31st, 2020, December 31st, 2021, and December 31st, 2022?
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