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yvonne19632022-h
Level 1

Adding work vehicle as a asset

I owned a vehicle before I started my business and I would like to introduce it as an asset
1 REPLY 1
Mark of Somerset
Level 3

Adding work vehicle as a asset

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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