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p&l a/c
what can I do with motor car expenses in p&l a/c
Replies (9)
show it as repairs and maintenance
add with motor car...then depreciate it?
no you can't add unless expenditure is of capital nature
so what can I do with motor car expenses in single entry system
reduce capital and cash
if it is capital nature expenditure than you have to capitalize that with the motor car value, in case if it is revenue expenditure than you reduce your cash/bank and and increase the expenses...
agree with aashish bansal sir
what if i change the engine of the car...whether i have to capitalize it or treat as revenue expenditure
engine wud enhance the lIfe of the car. hence it should be capitalized and depreciation can be claimed
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