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Fixed Assets Journal Entries

oboloo Glossary

Fixed Assets Journal Entries

Fixed Assets Journal Entries are business bookkeeping entries that record the purchase, depreciation, disposal, and any changes in the value of fixed assets. This type of entry is especially important for companies that buy or sell large items such as machinery, buildings, or land. It allows them to keep track of the value of each asset over time and helps to calculate taxes and monitor their assets’ performance. Fixed Assets Journal Entries also help with budgeting, as it provides a historical view of how much was spent on each fixed asset throughout the life of the asset.

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