Solved
If I purchase a fixed asset (Equipment) for less than market value, can I show the market value in QB & what GL account is recommended?
For example, I paid $10,000 in 2016 for a brand new machine that was discounted from $50,000.
I would like to be able to show potential investors that the assets I have on hand are worth more than I paid and have not yet depreciated in value.
I have a fixed asset account set up for the machine, but it only records the transaction amount of $10,000.
I would like to be able to show potential investors that the assets I have on hand are worth more than I paid and have not yet depreciated in value.
I have a fixed asset account set up for the machine, but it only records the transaction amount of $10,000.
