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Chapter 15. Recording Your Assets > Accounting for Assets

Accounting for Assets

When you acquire an asset, the cost of the asset is recorded on your company balance sheet. If you spent cash to acquire the asset, your cash account is reduced. If you borrowed money, your liabilities are increased. Here are some examples of how asset acquisitions are recorded in QuickBooks.

You write a check to place a $400 deposit with your utility company:


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