Brodloc
5 years agoContributing Cover User
Purchase and Disposal of Comapny vehicle
Good Afternoon,
I have recently bought a company car and would like to know the journal entries for it please. It is on HP contract for 5 years. I am assuming the accumulated depreciation is $2398 per year.
I have also sold a company car bought in 2012. refinaced and was owing $4900 when sold. The journal entries for this would be great too.
Hi Brodloc
Thanks for your post. For the specific journal entries I do recommend speaking to your accountant to ensure that BAS and tax reporting is correct.
Please don't hesitate to post again if you have further questions.