2007-12-22 00:53:22 · 4 answers · asked by Ana M 1 in Business & Finance ➔ Other - Business & Finance
If the owner takes the computer home for his private use, the company has lost the use of the computer, and the records should reflect this. You should calculate the net book value of the computer at the time he took it, and:
Dr Owner's drawings xxx (nbv)
Dr Accumulated depn xxx
Cr Computer, at cost xxx
This would be the easiest to do, since it gives rise to no gain and no loss. If you want to be more correct, you should find out how much the computer could have sold for if sold to a third party and use that amt. to debit owner's drawings.
2007-12-24 23:50:26 · answer #1 · answered by Sandy 7 · 0⤊ 1⤋
You don't.
You just leave it in the office equipment/asset section.
He is the owner, it really doesn't matter where the phyical presence is.
20+ years accounting
2007-12-22 09:26:35 · answer #2 · answered by Gem 7 · 0⤊ 0⤋
let me answer your question with one of my own. what's PRIATE? Is it something you eat or some sort of bug-eyed, three-eared and long tongued antelope?
2007-12-22 09:04:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Write it off, like damaged goods or just shortage.
Just so it is removed from inventory.
Write off is better, as you will always know what happened. As a shortage, it could distort actual shortage such as theft.
2007-12-22 09:02:34 · answer #4 · answered by ed 7 · 0⤊ 1⤋