If I purchase a fixed asset (Equipment) for less than market value, can I show the market value in QB & what GL account is recommended? For example, I paid $10,000 in 2016 for a brand new machine that was discounted from $50,000. I would like to be able to show potential investors that the assets I have on hand are worth more than I paid and have not yet depreciated in value. I have a fixed asset account set up for the machine, but it only records the transaction amount of $10,000.

QB Issue Resolution:

Sorry, but the cost principle of accounting prohibits recording a higher value for an asset beyond that for which it is acquired or improved, even if fair market or appraised value rises.

Resolution for Issue 'If I purchase a fixed asset (Equipment) for less than market value, can I show the market value in QB & what GL account is recommended? For example, I paid $10,000 in 2016 for a brand new machine that was discounted from $50,000. I would like to be able to show potential investors that the assets I have on hand are worth more than I paid and have not yet depreciated in value. I have a fixed asset account set up for the machine, but it only records the transaction amount of $10,000.' available: Yes (Solved).
Source: Intuit Community forum.

If I purchase a fixed asset (Equipment) for less than market value, can I show the market value in QB & what GL account is recommended? For example, I paid $10,000 in 2016 for a brand new machine that was discounted from $50,000. I would like to be able to show potential investors that the assets I have on hand are worth more than I paid and have not yet depreciated in value. I have a fixed asset account set up for the machine, but it only records the transaction amount of $10,000.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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