How do you show equipment on a balance sheet?

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Esteban Sawayn asked a question: How do you show equipment on a balance sheet?
Asked By: Esteban Sawayn
Date created: Sat, Jul 10, 2021 1:03 AM
Date updated: Thu, Oct 27, 2022 3:44 AM

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Equipment is not considered a current asset even when its cost falls below the capitalization threshold of a business. In this case, the equipment is simply charged to expense in the period incurred, so it never appears in the balance sheet at all - instead, it only appears in the income statement.

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