Vehicle purchased in the name of owner
This query is : Open
Querist : Anonymous
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.
Notes:
vehicle (Motor van) is currently using for proprietorship business.
14 December 2017
Yes, it can be shown in financial statements of proprietorship business.
Expert : Anonymous
Expert :
Anonymous
(Expert)
14 December 2017
Yes... You can Show it under Assets .
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