You should have a depreciation report and a Form 4562 that lists your non-current assets. If you use accounting software, you should be able to generate a report for all of your business assets. @Twitter1
Assets
Here are the components of a balance sheet:
- Assets – What your business owns. Assets are resources used to produce revenue, and have a future economic benefit.
- Liabilities – Amounts your business owes to other parties. Liabilities include accounts payable and long-term debt.
- Equity – Equity is the difference between assets and liabilities, and you can think of equity as the true value of your business.
The components are connected by the balance sheet formula:
Assets = liabilities + equity
The formula is used to create the financial statements, including the balance sheet.
What are assets?
Generally Accepted Accounting Principles (GAAP) requires firms to separate assets and liabilities into current and non-current categories. [Edited 05/13/21 5:35PM]
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