MNE 3701 ASSIGNMENT 5 SEMESTER 1 2023
DISCLAIMER: SEMESTER 1 2023 Extreme care has been used to create this document, however the contents are provided any
representations or warranties, express or implied. This document is to be used “ as is ” without for comparison, research and reference
purposes ONLY. Directly submitting and/or reselling/ distribution / reproduction any part of this document is not permitted AVOID
PALAGIARISIM . PUT IT IN YOUR
NAME & SURNAME
STUDENT NUMBER:
MODULE:
ASSIGNMENT NUMBER:
, QUESTION 1
1. Identify Your Assets
Knowing what assets you have, as well as their value, is key. Make a list of any and all (O'Sullivan &
Sheffrin, 2021):
• Office furniture
• Computers
• Equipment
• Special technology
• Company vehicles
• Fixtures
• Buildings you own
• Inventory
2. Assign Value to Them
Once you have a list of your assets, determine their value. This isn’t what you initially paid for them
because assets depreciate. To determine the market value of these physical assets, look for similar
products (about the same age) for sale in your area (O'Sullivan & Sheffrin, 2021). This isn’t an exact
science but will give you a ballpark figure of what they’re worth, which will be useful later if you
want to take out financing.
3. Record Your Business Assets
Now that you’ve assigned value to your assets, list them on your balance sheet. Most accounting
software will walk you through the process, or you can get help from a professional accountant.
DISCLAIMER: SEMESTER 1 2023 Extreme care has been used to create this document, however the contents are provided any
representations or warranties, express or implied. This document is to be used “ as is ” without for comparison, research and reference
purposes ONLY. Directly submitting and/or reselling/ distribution / reproduction any part of this document is not permitted AVOID
PALAGIARISIM . PUT IT IN YOUR
NAME & SURNAME
STUDENT NUMBER:
MODULE:
ASSIGNMENT NUMBER:
, QUESTION 1
1. Identify Your Assets
Knowing what assets you have, as well as their value, is key. Make a list of any and all (O'Sullivan &
Sheffrin, 2021):
• Office furniture
• Computers
• Equipment
• Special technology
• Company vehicles
• Fixtures
• Buildings you own
• Inventory
2. Assign Value to Them
Once you have a list of your assets, determine their value. This isn’t what you initially paid for them
because assets depreciate. To determine the market value of these physical assets, look for similar
products (about the same age) for sale in your area (O'Sullivan & Sheffrin, 2021). This isn’t an exact
science but will give you a ballpark figure of what they’re worth, which will be useful later if you
want to take out financing.
3. Record Your Business Assets
Now that you’ve assigned value to your assets, list them on your balance sheet. Most accounting
software will walk you through the process, or you can get help from a professional accountant.
