Capital work in progress accouting
This query is : Resolved
13 May 2016
Our contractor is constructing a RCC road . As per contract he can submit RA (Running accounts bills ) . These RA bills are booked as capital work in progress. During March contractor has completed some part of work but not submitted the RA bills as measurement was pending . Whether liability under capital work in progress is required in march accounts . Keeping in view the fact that such liability will increase both assets and liability .
13 May 2016
Yes liability under capital work in progress, for work done but bill not submitted, has to be created in March accounts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Procedure for claiming exemption in Article Ship for CA Course
- Salary and pension received from Asian Development Bank
- RNOR Status but Investments more than Income
- What is provisional receipt number for generation of form 16A
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Capital Gain on EUITY Shares
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
