Conversion of land into stock-in-trade

What will be the accounting treatment for conversion of land into stock- in-trade ?

How will be the same disclosed in P/L A/C ??

Please everyone ignore capital gain treatment.

Following is the Accounting treatment to be done :-

Case 1 - If the land is shown as Investment in the Balance Sheet

Land A/c         Dr.       ( Grouped under the head purchase in trading account )

    To Investment A/c

[ Being Land brought into stock ]

Case 2 - If the land is brought into business by a Partner / Propreitor

Land A/c              Dr.  ( Grouped under the head purchase in trading account )

   To  Partner's / Proprietor's Capital A/c

[ Being Land introduced in Business ]

Regards,

Devendra Kulkarni