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    winnie158's Avatar
    winnie158 Posts: 29, Reputation: 1
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    #1

    May 15, 2012, 12:04 AM
    How to record the perpetual inventory system
    June 1 hayes invested $160 000 cash and $42000 of store equipment into the business. (INcluding GST)The store equipment is to be depreciated evenly over 7 years
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    May 15, 2012, 02:02 AM
    Quote Originally Posted by winnie158 View Post
    June 1 hayes invested $160 000 cash and $42000 of store equipment into the business. (INcluding GST)The store equipment is to be depreciated evenly over 7 years
    What does this have to do with a perpetual inventory system?

    Assets are recorded in an asset register

    Share holdings are recorded in a share register
    winnie158's Avatar
    winnie158 Posts: 29, Reputation: 1
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    #3

    May 19, 2012, 10:18 PM
    Quote Originally Posted by paraclete View Post
    what does this have to do with a perpetual inventory system??

    Assets are recorded in an asset register

    Share holdings are recorded in a share register

    If you don't do accounting, no need to reply your stupid answers to me thankss
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #4

    May 20, 2012, 01:36 AM
    Quote Originally Posted by winnie158 View Post
    if you don't do accounting, no need to reply your stupid answers to me thankss
    I am an accountant with many years experience so don't ask your illogical questions and you will get sensible answers
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