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Describe the vehicle part purchases should debit to expense group or assest group of account?

Key Account Management Account Coordination Account Management
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Question added by Abdul Qayyum Mohammed , Sales And Marketing Manager , Zafar Naji Al-Muthlaq Contracting Establishment
Date Posted: 2014/09/05
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Cristina Asuncion
by Cristina Asuncion , General Accountant , Gulf Coasts Company LLC

If the vehicle part purchase is of material value it should be added to asset group but if the value is immaterial it can be directly debited to expense group.

MOHAMMED ABU NASAR OSMANI
by MOHAMMED ABU NASAR OSMANI , Payroll accounting manager , Adastra Group

Vehicle part purchases should be debited to Inventory account-(Assets).

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