I have a doubt about the accounting for the land development costs.

In a big land a commercial complex is to be constructed

Expenses are incurred for making the land fit for construction of building. This we call as Land developement expenses.

I am little confused whether the said Land development cost should be capitalised as part Land cost or as CWIP(all expenses incurred untill the constrcution of the complex are held in CWIP)

I think it should be part of Land cost.

Please post your views on the issue.

Thanks

Priya

Minimum Acceptable Rate of Return
The following information is available

Equity Share Capital 800000 (Before Tax cost %) 14
Prefereance Share Capital 100000 (Before Tax cost %) 6
Long Term Debit 600000 (Before Tax cost %) 8

The compnay is to undertake a expansion project cost rs. 500000 which can be arranged at 9%What is minimum acceptable rate of Return? Assumed 40% is tax rate for the company

Can any one provide solution please???

Please explain the reason/logic behind the following statement:

If the payment of the entire sum due is made by the Debtor 'before the due date', then it would result in a GAIN FOR THE CREDITOR & A LOSS FOR THE DEBTOR (by way of interest).

Similarly, if the entire payment is made by the Debtor 'after the due date', then it would result in a LOSS FOR THE CREDITOR & A GAIN FOR THE DEBTOR(by way of interest).

Thank you.

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Dear friends
A is the (P) Ltd It is formed by 3 directors
Out which a is also one director
who transfered his proprietor business to company as a whole
how to make entry in directors books
Whether as transfer? or sale?
If sale Tax audit has to be done?

PLS help me solve question no. 5 of this paper
http://www.futureaccountant.com/exam-question-previous-papers/ca-pe-ii-group-i/accounting-november-2003.php