company accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2010
I hav got a part time job(accountant) in new established pvt. ltd. company whose main business is promoting and development of land with 2 directors with equal stakeholding.They have purchased around 45 acres land and are going to start its development.Plz tell me how to start accounting of this company.Actually I m a ca student and have got first time this type of work.plz help me what will be the requirements from my side.I m referring company law,Income tax books to know how to start.plz reply.
05 August 2010
If the expenditure is being incurred for land development; then open on land development account and put all the expenditure there.
You can also open separate account for example wages, reti (sand), water charges etc. and when the work is over or if the work is still continuing; at the end of the year you can transfer all these expenses to Land Development Account.
In Balance Sheet it would be shown as Land and Land Development Account as an asset.
You can also open separate account for example wages, reti (sand), water charges etc. and when the work is over or if the work is still continuing; at the end of the year you can transfer all these expenses to Land Development Account.
In Balance Sheet it would be shown as Land and Land Development Account as an asset.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- TDS on TRUST
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
