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Accounting treatment for Fixed Assets

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(Querist)
03 November 2024 Advances paid against making building but some services not received due to cancel of contract , what would be the treatment for not reeving amount given as an advance from party, whether it should added to building cost or write off it or may be other way.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 November 2024 If the advance is not recoverable, write off the amount as a bad debt or loss.
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