Hello,  I am new to this site and new to bookeeping. I have many questions but will start with just two 

My client has an existing incorporated business.  He has purchased a boat to be used as transportation for that business and he is also starting up a second business operation - a fishing charter.  We were told by a bookeeper that this would be acceptable providing he can show that the vessel is used for the primary business operations.

Question 1:  I want to keep only one set of books.  I have created ledger accounts for some of the assets/liabilities/expenses unique to the fishing charter ops.  Should I have done 2 completely different sets of books??

Question 2:  The shareholder (there is only 1) of the business used his personal LOC and his personal vessel as trade in to finance the new boat purchase.  I want to know how to record this in the accounts.

Here is a mock up just to give made up values to help provide suggestions/recommendations on how to record this transaction:  (keep in mind this client is only a GST registrant as he is a service based industry, he does not have a PST #)

New Vessel:  $130,000

Trade In Shareholders private vessel: ($55,000)

Total Payable for new Vessel: $75,000

Gst: $3750.00

Pst: $5250.00

Total Paid by Shareholder through his LOC: $84,000

The business is paying the monthly minimum payment which is interest only so I need to know how to record that as well....ok so that is three questions...sorry!  Very new, very green and want to make sure I do this right!!

Thank you!