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General Accounting Discussions: Financial Statements (help)

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  1.  
    • CommentAuthormcb05003
    • CommentTimeSep 7th 2008
     
    Hi, I have a question, Where would I report the following classification within a statement?
    A Building held for resale (not used in the company's operations) not expected to be sold within a year.
    • CommentAuthorprasanthi
    • CommentTimeSep 10th 2008
     
    Since it is not sold it will be classified under property, Plant & Equipment in Balancesheet as an asset.
  3.  
    that is incorrect... PP&E will have fixed assets used for normal business operations. The building held for re-sale will be classified under the Investments section until it s ready to be sold.

    for more information ... http://vitalbusinessinfo.blogspot.com/2009/10/depreciation-of-fixed-assets.html

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