Capitalising Of Cars

[SUNIL R]

We bought a car for 150,000 and paid to supplier 150,000
and leased the vehicle bank paid 160,000
so what amount should I capitalize as asset 150,000 or 160,000.

 

[Fidget]

Usually any capitalised assets are capitalised at cost, and you can then choose whether to continue that or opt for revaluation.

If you then go on to lease the asset, how you treat it will depend upon which accounting standards you're using.