Capitalising Of Cars

Discussion in 'General Accountancy Discussion' started by SUNIL R, Jul 15, 2017.

  1. SUNIL R

    SUNIL R

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    We bought a car for 150,000 and paid to supplier 150,000
    and leased the vehicle bank paid 160,000
    so what amount should I capitalize as asset 150,000 or 160,000.
     
    SUNIL R, Jul 15, 2017
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  2. SUNIL R

    Fidget VIP Member

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    Usually any capitalised assets are capitalised at cost, and you can then choose whether to continue that or opt for revaluation.

    If you then go on to lease the asset, how you treat it will depend upon which accounting standards you're using.
     
    Fidget, Jul 16, 2017
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