motor vehicle

Kumar Gaurav (Going...to be C.A soon...)   (1624 Points)

29 September 2007  

Respected all,

our firm has four partners and one of the partner has a Car in his name now i  want to show that in firm books so, plz tell me how to show that in firm books?

Car a/c Dr.

Partner capital a/c Cr.

and by making of this entry can i show all the expenses like Fuel, Repair etc.in books

thanks