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No, office equipment is not considered a current asset account; it is classified as a long-term asset or fixed asset. Current assets are typically cash or other assets expected to be converted into cash or used up within one year, such as inventory or accounts receivable. Office equipment, on the other hand, is used over a longer period and is depreciated over its useful life.
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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.
Is one of the fixed asset accounts from Office Equipment Land Delivery Equipment or Building will not have a related contra asset account?
LAND
The purchase of a typewriter on an account would be recorded as a debit on accounts payable and credit to office equipment True or False?
false
When coding an invoice in the amount of 5100 which includes 4500 for new office equipment and 600 for installation what amount if any would you code to the asset account Equipment?
5100
What can go to Expense Account Choose ccounts payable interest revenue accounts receivable merchandise inventory accumulated depr - building mortgage payable accumulated depr - equipment office?
Accumulated Depreciation Building and Accumulated Depreciation Equipment office
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.
Is one of the fixed asset accounts from Office Equipment Land Delivery Equipment or Building will not have a related contra asset account?
LAND
The purchase of office equipment on an account would increase assets and decrease liablities?
it depends...are you replacing old equipment? if so then no if by equipment you mean chairs etc.
What does it mean when technology or office equipment becomes obsolete?
That means that it is no longer able to perform with current technology. For example, you could not load Windows 7 on a 286 computer; that computer is obsolete.
The purchase of a typewriter on an account would be recorded as a debit on accounts payable and credit to office equipment True or False?
false
When coding an invoice in the amount of 5100 which includes 4500 for new office equipment and 600 for installation what amount if any would you code to the asset account Equipment?
5100
What can go to Expense Account Choose ccounts payable interest revenue accounts receivable merchandise inventory accumulated depr - building mortgage payable accumulated depr - equipment office?
Accumulated Depreciation Building and Accumulated Depreciation Equipment office
What is the usage of office equipment?
the use of office equipment is to use in the office so like duuuuuuuuuuuh
What is equipment finance?
Equipment financing is an example of a small business loan specifically designed to purchase the equipment and equipment needed to run your business. There is the option to make this type of loan to purchase all kinds of office furnishings, medical equipment, commercial ovens, or farm equipment.
How to keep inventory of machines and equipment in the office?
how to keep inventory of machine and equipment in the office
What is office account?
What entry can we post to Office Maintenance Account in accounting
What websites offer cheap office equipment?
The websites that offer cheap office equipment are AOS online, Hunts Office and Staples. Cheap office equipment offers always come with discounted prices.
