Stock to Fixed Asset

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Finance & Tax enthusiast
8 Points Posted on 14 August 2021
For my computer shop I took a computer from the existing stock for shop use. How should I account the same to see as an asset in B/S?
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On 14 August 2021 at 23:55 Report
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This discussion addresses how a computer shop should account for a computer taken from existing stock for shop use. The aim is to correctly classify it as a fixed asset on the balance sheet. The user is seeking a clear accounting process to reflect this change from inventory to an asset.

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Chartered Accountant
24588 Points Posted on 15 August 2021
Show it under Computer
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On 15 August 2021 at 06:02
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Finance & Tax enthusiast
8 Points Posted on 15 August 2021
Pls describe the accounting process, the item is currently as a stock
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On 15 August 2021 at 08:10

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