I need your help to complete my assignment. If anyone knows the correct answer please share with me.
“ABC Company has expanded its operations and purchased some furniture for its recently rented show room situated in north of the city, which is expected to have useful life of five years. During the same year the company purchased furniture and other home accessories from renowned designers and sold it to customers from its show room.
You are required to identify the account heads in which the above purchases of furniture will be recorded and why? You need to give valid reasons to support your answer.”
Give a valid reason in 6 to 8 lines.