Capital or revenue exp.
This query is : Resolved
03 February 2016
hello sir, we have purchased tyres for car how should i treat it, debit to p&l or add in the value of vehicle
03 February 2016
Tyres purchase for car is NOT a capital expenditure. It is a revenue expenditure. It should be charged to P&L account. The correct ledger account will be Repair & Maintenance-Vehicle
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