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    jaw1410's Avatar
    jaw1410 Posts: 1, Reputation: 1
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    #1

    Jan 28, 2016, 07:33 PM
    Equipment Purchase on Profit & Loss
    We own a small charter bus company. Last year we purchased a used bus for $30,000. We paid $15,000 down and 10 monthly payments of $1,500.

    Do these payments, both the down payment and monthly payments go on the Profit and Loss Statement.

    Thanks
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Jan 29, 2016, 07:49 AM
    This looks like a homework question. Do you understand the concept of depreciation of capital assets over time?
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