Hi,
We have a company that makes videos and websites, how do I list the parts that we buy that helps us do our business, on the balance sheet?
For example: We buy wire that connects a piece of mahinery to another piece of machinery so that we can edit video...

We have a new cable for a camera.

Thanks,
DS4321

Also, what about tools... screw drivers, etc. used to fix things

Tools should be Expensed. Wire should be Expensed as well.

So, the tools to fix the parts that make the machines work aren't assets and should go on the income statemtent, right?

Yes, Spare parts should be expensed when purchased just like a trash can is.

This adheres to the Materiality Principle of GAAP.