The company made the following purchases: Jan 3 - Computers - $3000, useful life 3...
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Accounting
The company made the following purchases:
Jan 3 - Computers - $3000, useful life 3 years, no residual value
Jan 3 - Software - $1450, useful life 2 years, no residual value
Feb 3 - Software - $450, useful life 2 years, no residual value
Jan 3 - Office equipment - $4000, useful life 5 years, no residual value
Prepare adjusting entries at the end of the first quarter 2021 (depreciation expense). The company uses straight-line basis.
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You can see the logs in the Dashboard.