Question
I have to solve this in Accounting exercise: Tom's Grocery purchased 5 new cash registers for their new store and they paid $2,400 each for
I have to solve this in Accounting exercise:
Tom's Grocery purchased 5 new cash registers for their new store and they paid $2,400 each for a total of $12,000 on August 1, 2013, the day they were delivered. The cash registers are expected to have useful lives of 5 years and they are not expected to have any salvage value. Tom's Grocery uses straight-line depreciation. The cash registers were recorded as long-lived assets at the time of the purchase and now Tom's needs to make an entry showing the expense related to these cash registers up to December 31, 2013.
I have to express what to put in each section of assets+ Liability+Equity Owner and put each T Accounts
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