10438     ACCOUNT NO. 2740 - INVENTORY OF SURVEYED EQUIPMENT
(Revised 5/87)

 

Normal Balance:  Debit

 

Purpose:  This account shows the estimated sales value of surveyed equipment at the end of any fiscal year in which the new equipment has been purchased but the old item, budgeted to be traded-in, has not been sold on or before June 30. The purpose of this account is to give effect to uncompleted equipment transactions in the agency's final budget report and to show salable surveyed equipment as fund assets in other final year-end reports furnished to the State Controller's Office. It will be used only by those funds where the receipts from the sale in lieu of trade-in are to be abated to a Budget Act appropriation or other appropriation specific in amount.

 

Subsidiaries:  Property Ledger; File of Uncleared Survey Reports