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Vehicle purchased in the name of owner

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 December 2017 Whether the vehicle (Motor van) purchased in the name of owner /proprietor (not in the name of proprietorship business ) can be shown as an asset in the Balance sheet of his proprietorship business ?

Notes:
vehicle (Motor van) is currently using for proprietorship business.
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Sumeet

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Sumeet (Expert)
14 December 2017 Yes, it can be shown in financial statements of proprietorship business.
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Expert : Anonymous

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Expert : Anonymous (Expert)
14 December 2017 Yes... You can Show it under Assets .
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