James's uncle, Brian, uses his car as a taxi and also as the
family car. His trading figures for the end of the year include
all expenditure on the car. He likes this way of accounting
because it is easy and he is sure that he has not missed any
costs. He asks you for reassurance that this is reasonable.
In this case, the accounting treatment needed to correct the
original entries would be to debit:
and credit:
The underlying concept here is