This account is intended to represent the actual value of motor cars owned by the concern. Three of the cars being new, no depreciation was taken on them. A fourth car had been reduced annually by 25% of its original cost, and it is believed this is a fair standard rate. All repairs are charged to the Expense account direct; for if they were charged to Automobiles account, the calculation of depreciation would be involved unnecessarily. Some conservative business men claim that the life of a motor is so uncertain a quantity that the original cost of all cars should be charged direct to Expense, but this is a rather extreme view inasmuch as a second-hand car has an actual selling value.