Adopting an abandoned, unloved bottler asset

[Lbfrozen]

How do you account for the acquisition of a bottler-owned asset? (I can ask my accountant, but that is only one professional opinion. What advice have the many of you gotten for this?)

 

Do you put an abandoned bottler machine on your list of assets (which would be covered by liability insurance if something bad or dumb happened with that machine). It would have an acquisition cost of $0, which could look sketchy to the audit man.

 

Or, are you just putting a new lock on the machine and servicing it? If it then goes missing, do you just ¯\_(ツ)_/¯ and move on?

 

LB

[PHX1]

What do you mean by abandoned? Just because a bottler leaves a machine out does not mean its up for grabs. Ive been battling coke here in PHX about a similar situation.

[Lbfrozen]

Specifically, I mean an old, old, old DN414 (single price can/bottle?) that has not been serviced in a looooong time. The bottler has been occasionally notified by the property administrator about it and has received many requests to remove it over the past five years. I can take over the machine or replace it with one of mine. If I replace it with mine, I still have to move the existing one, and the bottler will not come get it for any reason, apparently.

 

If ever a working asset was off the books of a bottler, this is it.

[AZVendor]

I can't imagine a DN414 is still on any bottler's books.  Even if there's a bottler asset tag on it they probably disposed of it years ago which means some other vendor abandoned it.  I wouldn't worry much about it and just pick it up.  Since you aren't out any money on it, if anyone could ever produce the serial number of the machine to claim it is theirs then you can simply give it to them with no money spent.

[PerformaVending]

I guess I'd agree with the consensus here- the location wants your gear installed, and if the bottler won't take it you should remove it. I've never acquired full-line gear like this, but I have removed plenty of abandoned bulk vending units in the past. I have a form made up (plain text, nothing fancy) that I have the owner or manager sign stating they ok'ed me to remove the derelict equipment, and that I removed it- the form also includes all my contact info. I bring in 2 copies- I take the signed copy, they keep the unsigned copy, both of us are covered should the original owner return. When I get a 'new' unit, I usually wait a few weeks, and make a diligent effort to contact the owners during that time. If they can't be found, or in your case can't be bothered, then I turn around and drill locks so it can be added to my lineup or sold.

 

As for the books, I've never picked up full line gear for "$0", but I have picked up the aforementioned bulk gear, and never had a problem with listing it as a $0. So long as you have documentation on when and how the machine was aquired, you should be fine.

 

However, I am not a lawyer, so take this with that in mind. Good luck!

[moondog]

I'd haul it off the scales-that way you don't have to deal with it again.  An old single price machine is really not worth much anyway.

[orsd]

Eh, it'll bring 300 in parts

Or it's a good machine to put in rough locations.

[allprovending]

FYI most states have laws for abandoned property.  Several states I work in the abandoned property law is 30 days.  So after the owner has been notified to pick up the equipment if its still there legally they have abandoned there equipment.