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Land purchase by builder

This query is : Resolved 
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(Querist)
20 February 2013 Hi,
A Developer / builder has purchased a land for Making Building and selling flats How should be the entry passed in builder books account.
Land under what group should been shown Please reply.
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Guest

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Guest (Expert)
20 February 2013 Land should be shown under Purchase a/c.
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survesh

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survesh (Querist)
20 February 2013 Sir,

Any TIPS to keep in Mind while accounting for Builder and developers for Direct expenses.

I Am account first time for construction.

Daily Payments are made in cash to labours.
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survesh

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survesh (Querist)
20 February 2013 Sir,

Any TIPS to keep in Mind while accounting for Builder and developers for Direct expenses.

I Am account first time for construction.

Daily Payments are made in cash to labours.
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NITIN SHARMA

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NITIN SHARMA (Expert)
22 February 2013 Purchae a/c dr.
To cash/bank
it should be under the stock in trade.
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