Accounting-recording a vehicle asset purchase

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Accounting for a purchase of vehicle [ 4 Answers ]

Hi, If I'm purchasing vehicles for business, do I include the tax/title charges and the paint jobs for the business logos into the same entry as cost of vehicle? Example: Truck 50 Tax/title 10 Alterations for business purpose 20 What would be the entries?

Accounting for vehicle purchase [ 2 Answers ]

I am a realtor who has established an LLC. I purchased a vehicle in 2008, 90% used for realty activities. The car was purchased in my name, however, the down payment and all payments are made from LLC cash account. How do I account for purchase and subsequent payments. Would it be booked as...

Accounting for the purchase of a vehicle [ 1 Answers ]

In Canada, how do you account for the purchase of a vehicle which includes GST, PST, PPSA filing fees, and interest over 36 month term @ 1.99% ($1,842.74) Vehicle cost: $62,212.00, GST $2,712.72, PST $4,524.43, PPSA fees $37.35 and of course the interest of $1,842.74. Owner also made a 10,000...

Accounting for a vehicle cash purchase [ 2 Answers ]

I purchased a vehicle for 3,200.00; add. 55.00 Doc Fee 50.00 smog pd to seller 239.61 sales tax = 3,544.61. To that add 30.00 Reg/Trans Fee and 8.25 for smog fee pd to State=3,582.86 Less 500.00 Discount I Paid a total of 3,082.86 cash. Which amounts are capitalized? Thanks, Ana

Recording the A Purchase of an Asset [ 1 Answers ]

I am recording the purchase of a rental property from the HUD-1 settlement sheet. The security deposits held by the previous owner will be a credit to the liability account "Tenant Deposits" in my journal entry to record the settlement. When I actually receive the cash to fund the Security...

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