03-24-2010, 03:27 PM
I disagree that you should capitalize registration fees. According to Principles of Accounting
"The cost of property, plant, and equipment includes the purchase price of the asset and all expenditures necessary to prepare the asset for its intended use....
<b>Equipment, vehicles, and furniture.</b> The cost of equipment, vehicles, and furniture includes the purchase price, sales taxes, transportation fees, insurance paid to cover the item during shipment, assembly, installation, and all other costs associated with making the item ready for use. <font color="red">These costs do not include such things as motor vehicle licensing and insurance, however, even if they are paid when a vehicle purchase occurs. Expenses of this type are normal, recurring operational expenses that do not add lasting value to the vehicle.</font id="red">"
Read more http//www.cliffsnotes.com/study_guide/The-Cost-of-Property-Plant-Equipment.topicArticleId-21081,articleId-21075.html#ixzz0j4Icmvuv
"The cost of property, plant, and equipment includes the purchase price of the asset and all expenditures necessary to prepare the asset for its intended use....
<b>Equipment, vehicles, and furniture.</b> The cost of equipment, vehicles, and furniture includes the purchase price, sales taxes, transportation fees, insurance paid to cover the item during shipment, assembly, installation, and all other costs associated with making the item ready for use. <font color="red">These costs do not include such things as motor vehicle licensing and insurance, however, even if they are paid when a vehicle purchase occurs. Expenses of this type are normal, recurring operational expenses that do not add lasting value to the vehicle.</font id="red">"
Read more http//www.cliffsnotes.com/study_guide/The-Cost-of-Property-Plant-Equipment.topicArticleId-21081,articleId-21075.html#ixzz0j4Icmvuv
