0
Loss by theft will be charged to profit and loss account for that specific fiscal year with the remaining amount after accumulated depreciation till that time period.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
What type of account is equipment?
Equipment is a long term asset account available for business to generate economic revenue.
Why would an owner choose to buy business equipment insurance?
When someone owns a business, they often take the chance of their equipment being damaged, stolen, or breaking down. Business owners often times do not have the means to pay for new or fixed equipment out of pocket, this is why it is important for business owners to demonstrate an appropriate level of financial responsibility.
Can a bank account be stolen?
Yes. Anything can be stolen.
You had lawn equipment stolen from your house will homeowners insurance cover this?
It will be subject to your deductible and there might be some restrictions if the lawn equipment was used for your business, but otherwise yes! Lawn equipment is covered under your Homeowners policy under personal property coverage.
What do you do if you get your account stolen on planet cazmo?
make another account
When a lessee sells leased equipment to a third party the lessor cannot under any circumstances recover the equipment from the buyer?
Wrong. If the lessee sells equipment to someone else that does not belong to him then it becomes stolen equipment. Then the buyer is in possession of stolen equipment. If the buyer knows or should know that the equipment is stolen, he is committing a felony. It is punishable by time in prison. The material is returned to the original owner.
What is a stolen account for RuneScape?
dddddddddddddddddddddddddddddddddddddddddddd
How can you find a car that has been stolen by your business partner?
Report it stolen.
The office equipment account is classified as?
The office equipment account is classified as an asset. Office equipment is an account that is amortized each year to show a devaluation for tax purposes.
Where can I find stereo equipment dealers in Southern California?
There are a wide variety of dealers, from national chains to whole in the wall stores that look like they sell stolen merchandise. The better business bureau can steer you right at http://www.bbb.org/central-california/accredited-business-directory/audio-visual-equipment-dealers
How can one lease business equipment?
There are many ways one can lease business equipment. One can lease business equipment by visiting popular on the web sources such as Small Business Administration.
Is equipment a debit or credit balance account?
equipment is a fixed asset.so it's a Debit balance account.
