 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Accounting for donated vehicle?
Hi, we donated an old vehicle to the registered charity and received the official receipt for income tax purposes for $100.00. The vehicle is totally amortized and could be removed from books as:
DR Accumulated amortization $5000.00 CR Vehicle $5000.00 Where should we show $100.00 donation receipt? And what accounting entries should we do? |
||||
Check out some similar questions!
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?
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...
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...
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
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
