when preparing a standard balance sheet, where the hell would "building not currently used" fit in? i know it wouldn't be under current assets, but does it still go under property, plant, and equipment? or do you not include it at all since it is not being used?
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you still include it as Property and Equipment... it is an asset of the company. -
What Monk said.~
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"Property, plant, and equipment are assets with relatively long useful lives that are currently being used in operating the business." this describes the property plant and equipment section as only including things "currently being used," so where do i put 'building not currently used?' does it go under a different part of 'assets?'Comment
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If you have an option for fixed assets or tangible assets, you might put it there. The biggest thing would be that it not go into current assets. I'm not an accountant, but I personally think you'd be fine listing it under property/plant/equipment.
Found this snippet that may help: Where a fixed asset is used not for use within the business, but is held for investment purposes, then it is not expected to wear out and need not be depreciated. Investment properties must be included at open market valueLast edited by selena; 09-25-2005, 01:52 PM.~
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