Hi,
I purchased vehicle in the year of 2009 at 92,000 (76,000 Base price + loan interest)
I started using it for the business which started in 2014. Use of the vehicle us 80% business and 20% personal.
Can I show it as a fixed asset? What will be openeing balance of this fixed asset in 2014 and how can I take the depriciation using above 80%-20% usage.
Thanks.
If say, the vehicle is valued at 45,000
Would it be like this?
Motor Vehicle (Fixed Asset) Dr. 45000
Capital Cr. 45000
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