acquisition of fixed assets

valentino46

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

Steve Collings

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