An other situation. Purchase of a vehicle . Purchase value $50000. buy out condition at the end of lease $1

with ownership. Monthly lease $1000+130.HST=1130. Per month for 50 months. This is capital lease.

(As per IFRS16 there is no mor difference between Capital lease or Operating lease) As per new rules all lease will be treated as Capital assets and liabilities.

MY QUESTION?

(1) What entry to be posted in Quick Book.

(2) What about HST? 

(3) Whether it is to be claimed upfront whicle entering Capital assets as shown in the abouve example(Computer Purchase)

(4) In Vhicle situation how it will woek? Whether we have to claim(Input HST) every month?

(5) How we can claim Depreciation at the end of year in Income tax?.

(6) As in the whole year We claimed in quickbook $12000.+HST.(1000+130+1130$ every month)

Please clear by giving example. How to enter Capital Assets, Monthly entry,type of expenses and deperication at the end of the year. 

How the capital will be reduced in Schedule 8 every year.

Any special entry to be made at the end of the yeer in General ledger (Balance sheet) for income tax purpose.