What is considered "Equipment" on a balance sheet?
Equipment falls under the “Assets” category when you are running a balance sheet report. Equipment is any sort of tangible object that you have purchased to aid your business. For example:
Example 1: A Contruction company could put the following item values as equipment:
- Tools (saws, drills, sanders, hammers)
Example 2: A Software company could put the following items as equipment:
- Routers and Cables
- Desks and Chairs
- Filing cabinets, shelving
Equipment will often succumb to “depreciation”, which the decrease in value of an asset. You should speak to your accountant or CPA to figure out the depreciation of your equipment/assets.
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