Under U.S. GAAP, fixed assets are generally reported on the balance sheet at their:

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Under U.S. GAAP, fixed assets are generally reported on the balance sheet at their historical cost, which is the cost incurred to acquire or construct the asset. This historical cost includes all costs necessary to get the asset ready for its intended use, such as installation and transportation costs. Exceptions to this include impairment losses and adjustments for inflation.

Under US GAAP, Fixed Assets Are Generally Reported on the Balance