Re: ::: vuaskari.com ::: MGT101_GDB idea Admin Binish Awais

yes you are right. the car purchased for personal used will be treated as Drawings and is not relavant with any of the capital/revenue expenditure.

 

Abdul Wahab

2011/11/2 ●๋•ιмяαη αℓι●๋• <candle.in.winds@gmail.com>

after reading the below para, i dont think Car he purchased for his personel use will be included in expenditure incurred on business. So you all should leave this expense as it is not relevant cost.

==============================================================

Imran Ali,

MBA 4th (Finance),

"The Hardest Part About Losing Love;  IS FINDING YOUR WAY BACK".

ali_g_sha@yahoo.com

===============================

On Wed, Nov 2, 2011 at 1:11 PM, Admin Binish <greyferry@gmail.com> wrote:

"Mr. Ali has started a new business in current year 2011. For his business, he has purchased a building, office furniture and fixtures. He has paid insurance premium of the building for the financial year 2011 and also incurred the advertisement expenses. Transportation charges have also been paid for the furniture he purchased. Salaries have also been paid during the year. Along with all these activities, Mr. Ali has purchased a car for his personal use only.

Hope now all is clear 

car is only for Ali's Personal use not for business 

i hope i had clear my point at home 

thanks

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