Capitalising Of Cars


Joined
Jul 15, 2017
Messages
1
Reaction score
0
Country
Botswana
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.
 
Ad

Advertisements

Fidget

VIP Member
Joined
Jan 6, 2013
Messages
705
Reaction score
123
Country
United Kingdom
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.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top