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How would a personal computer be treated for accounting purposes. Describe the asset, identify where it...

How would a personal computer be treated for accounting purposes. Describe the asset, identify where it would be listed on the balance sheet, and determine if it would be depreciated. Discuss the rationale behind your conclusions.

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Answer #1

Personal Computer for Accounting purpose would be treated as Fixed Asset assuming it is used for official purpose. Personal Computer are used for business activities and performance accounting functions. It would be shown on the asset side under the Fixed Asset tab . Depreciation will be charged on this asset every year . Every Fixed Asset except Land will be depreciated depending on the useful life of the asset.  It is important to determine the useful life of the personal computer so that depreciation is calculated and charged to Profit and Loss account every year.

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