Question: Adjusting journal entry: The computer equipment that Jerry contributed during the month and the scanning/imaging equipment both have a useful life of 4 years with

Adjusting journal entry:

The computer equipment that Jerry contributed during the month and the scanning/imaging equipment both have a useful life of 4 years with a $500 salvage value each. The company is using the straight-line method for depreciating these assets. The company treats all assets contributed or purchased during the month as being placed in service on the first day of the month for depreciation purposes. Computer equipment cost- $8200

Scanning equipment cost: $16600

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