Advice - Statrting a new business

Sherriemarie001
Sherriemarie001 Registered Posts: 5 Regular contributor ⭐ ? ⭐
I am after some advice if anybody could help me that would be great.
My partner has started up a car repair garage, he has bought some things for the garage (eg. a solus - which was £1000.00) and he is wanting to put this into the business as an asset to the company. Could somebody please inform me how we do this/ I am studying for my aat at the moment but I am unsure about this. Thank you very much in advance. Sherrie :huh: ... Shift+R improves the quality of this image. CTRL+F5 reloads the whole page.

Comments

  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    All items of equipment for the starting of the business should be capitalised (entered on the Balance Sheet / Statement of Financial Position). Don't forget they are not expenses, so would not go in the Profit and Loss / Income Statement. What level are you studying at? Do you think you are ready for this?
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