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16 April 2014 Dear Experts,
I want to record an Immovable asset (Land) purchased 5 years back into Books..i want to know what will be the Journal Entries required to be passed..Should it be treated as a Personal Assets in the Balance Sheet..
Pls tell me the effect in in the Balance Sheet..Thank You.. !!!

16 April 2014 If u want to take asset in business
.
Dr.land
Cr.calptal account

16 April 2014 if you are doing business and land not accounted then you can pass following entry

land a/c dr
to capital a/c

but make sure of sources of fund for land.




16 April 2014 Sir, actually the land was purchased 5 years back..it was not recorded in books..Now i want to enter it in the Books..
Is it fine to route it through Capital A/c..
Are there any other ways ??

Pls suggest !!

Thank You.

16 April 2014 what shall be the entry date..?

13 July 2014 Sir if i purchase the Land for personal investment purpose..what will be the journal entry.?




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