Capital work in progress
Querist : Anonymous
party dr
to bank
then we transfer to capital work in progress
capital work in progress dr
to party
until we pass the 2nd journal entry we show the amount as capital advances.
my question is when shall we pass the 2nd journal entry.
is there any criteria upon which amount to be transferred to capital work in progress is determined.
Please someone revert back .
It's urgent.
2) You have to capitalized whole amount (i.e billed amount) either advance amount deducted from the bill or not.
Querist : Anonymous
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