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Fixed asset accounting

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(Querist)
24 December 2010 director of our co. has car. But he not shown it in business. but expenses their on charged for business like servicing , maintainance, petrol etc. is it proper accounting? , if we show this car of our business asset than which accounting entry should be do?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
24 December 2010 How you can show director's car as busniss assets. You can pay the maintenance charges, that is all right.

Just , pass the purchase entry , to show the car as business assets. But bocument has also to be transferred in company name.
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