It sounds like this was equipment for resale which is part of a Cost of Goods Sold section on your profit and loss statement. You would have to keep track of all the equipment you bought for resale as well as all the equipment that you sold on a Quickbooks software program which will enable you to see a running balance of the equipment you have available at any given date. Finally, depending on how you set up the business, whether it be a sole proprietorship, business, or partnership, the Cost of Goods sold section would appear on a Sch A Remember this formula Remember this formula; it is Beginning Inventory +Purchases -Ending Inventory= Cost of Goods Sold. For more information about this topic, see corresponding link
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