Chris, "Take a look at my new car. I paid $1,000 plus $25,000 in shipping, so if I sold it today for $2,000, I'd be doubling my money."
Hopefully David won't be filing for bankruptcy after he records the sale as a $200 profit. David does make a good point that we are discussing a hobby at most, so it's up to Flavio to determine how to manage the books. That said, if an asset is going to be recorded on the books, which is not necessary in Flavio's situation, then I completely agree that all the cost of the asset should be recorded. > On 09/30/2024 2:33 PM PDT Chris Miller via gnucash-user > <[email protected]> wrote: > > > Hi David, > If I bought a guitar for $500 and then spent $300 to have it shipped to > me, I would most definitely want that recorded as an $800 guitar, so I > would not mistakenly sell it to somebody who offered me $700 because it > looked like a $200 profit. > The book value of an asset is as the FASB says. It includes all the > costs to procure and deploy an asset. There is a reason for that. > Chris. > Laboriously sent to you from my ... do you really care? > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
