lease hold land

Pages : 1

krishna agrawal
Prop

[ Scorecard : 106]

Posted On 22 May 2011 at 17:02

Govt. given a land to a NGO for school. no lease rent was fixed. lease is for 20 years.

at what value land should be shown in balance sheet\ of NGO.

Arvind Sharma
Helping hand

[ Scorecard : 1289]

Posted On 22 May 2011 at 17:11

It should be show at very low value... Refer AS 12

Total thanks : 1 times

CA ADITYA SHARMA
CA IN PRACTICE

[ Scorecard : 16259]

Posted On 22 May 2011 at 17:14

Originally posted by : Arvind
	It should be show at very low value... Refer AS 12

say 100 rs.

Devendra
M.COM CA Final [Group 2- Cleared] CS Professional

[ Scorecard : 4106]

Posted On 22 May 2011 at 17:21

As per AS - 12 Accounting for Government Grants, the Land should be recorded in the Balance Sheet at a Nominal value (say Rs. 100.) Regards, Devendra

There are 3 Replies to this message

Post your reply for lease hold land