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yvonne19632022-h
March 2, 2022
Question

Adding work vehicle as a asset

  • March 2, 2022
  • 1 reply
  • 0 views
I owned a vehicle before I started my business and I would like to introduce it as an asset

1 reply

M
Mark of Somerset
March 4, 2022

Hi

 

I would use a realistic valuation on the day you started the business.  The journal is then:

Dr Vehicle: Cost

Cr Capital Introduced (assuming you are a sole trader)

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