banner_ad

journal entry of purchasing land for business

This query is : Open 
Profile Image

Profile Image

(Querist)
13 October 2016 1 what will be the journal entry when a builder buys a land for construction purpose 2 if he buys a land with someone for only purpose of profit sharing what will the journal enty
Profile Image

Parag

Profile Image

Parag (Expert)
13 October 2016 Case 1: The Land will be shown as stock in trade. It is only when. The journal entry will be same like purchase. Case 2: it will be joint venture and only profit entry will be accounted. The other entries will be done in joint venture accounts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details