For this assignment, I want you to think about the business you started back in the first assignment, and buy something big for that business. Submit a paragraph or two describing what you bought, how you would depreciate that item, and why you chose that method. I won't remember what your business was, so it will be helpful if you would start with my business was and I chose to buy a You really can't have a wrong answer to this - as long as your answer makes sense. (You wouldn't use units of production for a cash register, for example) 11 HERE IS MY FIRST ASSINGMENT (Below) If I were given a million dollars to start a business I would open a Game Parlour with a cafe. This parlour will be designed for gaming for kids and adults with a cafe where people can do business meetings, or get together with friends or family. This place would be best for mostly single mom or dad, if they have a business meeting and can't leave their kids at home then can take advantage of this Game parlour, where kids will enjoy the parlour and parents can also do their work without any tensions. In the first month of business operation, we would be spending money to start off the business. Will spend money for things like advertising, supplies, equipment, POS system, registers, menu board, salary expenses, insurance, utilities, and proper food licenses/ permit etc. The inventory account would be increased because of buying supplies. Account payable would increase as well, meaning the total liability would increase. The account equation stays in balance because inventory is an asset and account payable is a liability. The employees would be paid therefore the salary expense account would increase. The equipment and building would be assets, increasing that account