acquisition of fixed assets

hi guys,

help needed with the following, i have a question where it asks me to record the acquisition of a fixed asset. I have posted the original cost of the aset to the assets register but do i include the vehicle exise duty in this amount or is it posted to other expense??

thanks

rob

Comments

  • Steve Collings
    Steve Collings Registered Posts: 997
    Hi Rob

    Vehicle excise duty is a recurring cost which would hit the income statement so you need to post this to motor expenses.

    Best regards

    Steve
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