Forgot an Asset

lhbc-donate · Post by **lhbc-donate** » Wed Jan 28, 2009 11:09 pm

The church purchased a 2001 FORD 350 15 passenger van in 2004. My heading PROPERTY ASSETS has the following accounts: Land - At Cost, Building-At Cost, Furnishings & Equip. Can I add "Church Van-At Cost" with a DB of 23,000 and CR my Fund Balance the same $$ to get this on the books? or would it be better to get a today value. Our church does not use depreciation if that help you answer this better. Thank you in advance! ...Carey

Post by **Jeff** » Thu Jan 29, 2009 9:08 pm

You have it exactly right.