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View Full Version : How to record the perpetual inventory system


winnie158
May 15, 2012, 12:04 AM
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
May 15, 2012, 02:02 AM
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
May 19, 2012, 10:18 PM
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
May 20, 2012, 01:36 AM
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