February 18, 1997 12:00AM


New to funds. A couple of questions.

1. When setting up beginning inventories and equity accounts. In a Partnership
or Corp. is there a way to set up owners equity accounts reflecting entities startup
balances and then add additional paid up capital, or retained earnings Vs having the program
divide total equity at startup. As this reflects value of inventory (grain) which
will shortly be sold and proceeds used for expense items. I'me not a CPA maybe this
is not a valid concern?

2. Our partners each own Equipment outside the Partnership which is used by Partnership.
What is the best way to track fuel and repairs, acres covered on this equipment(cost of operating as the partnership pays
these expensed without showing these assets on the balance sheet and depreciation schedule?
A rented equipment group with negative profit enerprise charges per acre?

Thanks

Lyle



SubjectAuthorPosted

Farming with Leased Equipment

Lyle February 18, 1997 12:00AM

Re: Farming with Leased Equipment

R. Scott Nusbaum - Farm Works Software February 18, 1997 12:00AM



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