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Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Apr 20, 2015

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Another Net Worth Report question. Looks to me like the client has set up Capital Assets properly, but has not made any entries in the Fair Market Value report. When he generates a Net Worth Statement, there is nothing showing up for Capital Assets. I thought the book value of the Capital Assets would show up, if there has never been anything set up under Fair Market Value?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Cheryl!

    Not in the capital assets, no. This is definitely the case with General Assets, where no fair market value is entered but there is a balance on the balance sheet. But the book value assigned to the capital assets actually has nothing to do with the fair market value and Net Worth statement report. If no fair market value is entered for a capital asset, it will not be applied to the Net Worth statement report.

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