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Hi
I was wondering if any one can help with a query.
I work as an employee for a Ltd Company and the owner has a vehicle which he is looking to transfer to the business for a NBV of 1500.
He uses the vehicle 50% business and 50% personal.
Would you debit 1500 or 750 to the Vehicle fixed asset Account, I light of the fact that 50% of the vehicle is used is for business
Also if the vehicle is sold depending on the NBV at the time, how would that be dealt with?
It is something that I can not get my head round.
Many thanks Helen D
Not sure if I have posted this in the right location can someone help please
Edited at 11 Oct 2011 11:14 PM GMT
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