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If you start a new business usin existing machinery equipment you own can the fair market value of the equipment be used as asset value for depreciation?
Wiki User
∙ 9y ago
Yes whenver old asset is utilized in business it is it's fair value which is used for depreciation purpose in business.
Wiki User
∙ 9y ago
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What does the balance in the Accumulated Depreciation account represents?
it represents the undepreciated cost of existing equipment.
What does the credit balance in the accumulated depreciation account represent?
it represents the undepreciated cost of existing equipment.
Where can I find commercial equipment to lease?
I want to open a barber shop. Where can I find commercial equipment to lease?I want to open a barber shop. Where can I find commercial equipment to lease?I want to open a barber shop. Where can I find commercial equipment to lease?
Is independent business is the same as existing business?
yes
What has the author Lawless J Barrientos written?
Lawless J. Barrientos has written: 'Texas business kit for starting and existing businesses' -- subject(s): Business enterprises, Forms, Taxation 'California Business Kit for Starting and Existing Businesses' 'Maryland Business Kit for Starting and Existing Businesses' 'New Jersey business kit for starting and existing businesses' -- subject(s): Business enterprises, Forms, Taxation 'Florida Business Kit' 'Starting Business Kit' 'Connecticut Business Kit for Starting and Existing Businesses' 'Illinois business kit for starting and existing businesses' -- subject(s): Business enterprises, Forms, Taxation
What is the meaning of existing equipment?
Existing equipment means that everything is already in place/stocked for a particular event or plan so that can be carried out immediately without the need to wait for required equipment to be got in order for the task to be completed.
Cutting Company Expenses with the Option of Equipment Leasing?
Whether you are starting a new business or you are operating an existing business, the option of leasing equipment utilized for the services you provide to your customers and clients can be an economically friendly option. Equipment leasing allows you to see how well the products will work for your service options before spending a large amount of company revenue on these products. You will also have the ability of receiving free or low cost repair services when the equipment is not operating properly when leasing these items. Many equipment-leasing dealers offer you the option to purchase the equipment at reduced rates when your lease is completed. You are still able to claim the costs associated with equipment leasing on your business taxes for extra credit when claiming your business expense.
benefits of buying business?
buying an running or existing business is a process of acquiring business which is on sale.
Can you open a business when you already have an existing Job?
no
What is an example of a standby cost?
The firm will incur standby costs even if it does not use existing capacity; examples include property taxes and depreciation on a building.
Why depreciation on an existing asset is always irrelevant?
Depreciation is an invisible, non-cash cost and it is irrelevant when calculating the cash flow of the company which is the true indicator of whether the company is making a profit or not. Depreciation is also irrelevant because it is not truly realized until the asset is resold or scrapped at the end of its life. Recording it every year is consistent with the theory of conservatism when writing off costs. Depriciation is also irrelevant for the existing assets becoz it is fixed and fixed costs are always irrelevant unless they are incremental
What are Ontario's existing business and industry?
Ontario existing business and industries are : mining gasoline fishing forestry and more i guess i really dont know sorry
