FIXED ASSET

sanil (Accountant) (149 Points)

11 February 2010  

Hi Everybody

Case  - I am Employee in a company we have car in company. It is purchased by our Managing Director and it is in his name. it is  purchased by him 3 years back.

Purchased Amount 5 lacs. Purchased Date 01.01,2008. Depreciation rate is 20%

How to Account in books of Accounts of Company.

Can any One will help me.

Thank you