LAND PURCHASE
This query is : Resolved
27 August 2010
Suppose a company wants to purchase a land from a party for its own. It made agreement with party and paid sum amount as an advance to them. How can we post that entry. How can we treat the Land owner in accounts. After paying full amount for final settlement of that agreement how can we post the entry.
Thanks & Regards,
Thanks & Regards,
CMA Ramesh Krishnan
(Expert)
27 August 2010
It can be debited a separate account called - Advance - Land purchase under loans & advances, after the procedure completed it can be transfer to Asset a/c
Message likes :
1 times
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
- EPF ECR NEW FILE SEP 17TH 2026
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- Capitalgain tax purposes for valuation report compulsory
- Import of Software Service.
- GST on Renting godown to KFCSC for Storage of Raagi
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- 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
