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ELFijka
Guest
A bit confused here...
If Ltd company buy a Van on Hire Purchase Agreement, should that Van be recorded in Fixed Assets and be depreciated?
Because as far as I understand Hire Purchase means that you do not own your asset till you actually repay that in full. So how you can depreciate something that you do not actually own?
Thanks everybody!
If Ltd company buy a Van on Hire Purchase Agreement, should that Van be recorded in Fixed Assets and be depreciated?
Because as far as I understand Hire Purchase means that you do not own your asset till you actually repay that in full. So how you can depreciate something that you do not actually own?
Thanks everybody!