Land purchase by builder

This query is : Resolved 

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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20 February 2013 Land should be shown under Purchase a/c.

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.

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.

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


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