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    ctcgirl's Avatar
    ctcgirl Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 30, 2009, 07:06 PM
    Capitalizing Expenses
    I have recorded all my expenses for the year, but would like to make some of them fixed assets. We had a pool installed and need to capitalize it. What do I put for the cost and how do figure out the depreciation value?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    May 1, 2009, 12:17 AM

    DEBIT Pool Account
    Credit All Expense Accounts

    Being capitalising the expenses incurred in building the pool.

    The depreciation starts from the capitalisation
    Date.
    Assume the pool has a lifetime of 10 years.
    On a straight line basis you depreciate the
    Pool at the rate of 10% per annum.
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