How to prepare a fixed asset register?

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Solution

The fixed asset register that is maintained either in the accounting books or on an excel sheet must follow these steps:

The fixed assets must be identified by their unique serial number.

Furnished acquisition date to be mentioned.

Asset description to be provided.

The location of the assets is to be mentioned.

Furnish the asset classification.

Provide the cost of acquisition.

Provide accumulated depreciation.

Finally, arrive at the net book value of the asset.

Also see:

What Are Current Assets?

Fixed Assets Vs Current Assets

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