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Write the journal entries from january to december

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Question - On 1 January 2003, P Enterprise purchased a building for $100,000 with nil residual value and 10 years of useful life. On 31 December 2001, the building was revalued to $108,000. On 31 December 2004, due to a slump in the property market, the building was again revalued but this time the worth was only $55,000.

Required - Write the journal entries from 1 January 2001 to 31 December 2002.

Reference no: EM133134923

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