Accounting entry

This query is : Resolved 
 


Querist : Anonymous (Querist) 13 September 2017

Sir,
My company sold a old vehicle and Purchase a new Vehicle, Sir how to treat the accounting entry of invoice and Insurance , Reg; charge

Thank you


Ashiwini Ballodia (Expert)
13 September 2017

For old vehicle book profit/ loss in book & for new vehicle insurance, registration charges should be capitalised with the cost of vehicle



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