PRESENTATION IN BALANCE SHEET
This query is : Resolved
Ankit Rathore
(Querist)
22 March 2021
WE HAVE A LAND IN NAME OF TWO PERSONS A S B AND ONE BULDING IS MADE ON THAT LAND
THERE IS A SOLE PROPERITORSHIP FIRM WHOSE OWNER IS A . A IS SHOWING BULDING IN ITS BALANCE SHEET AT ITS OWNERSHIP RATIO AND EXPENSES ON ERECTION OF BULDING IS PAID BY A FIRM CURRENT ACCOUNT IS IT RIGHT IF NOT THEN PLS ADVISE HOW TO SHOW LAND S BULDING IN EACH OF THEM BALANCE SHEET AND ERECTION ON BULDING COST IS TO PAID BY WHOOM AND EFFECT IN RESPECTIVE BALANCE SHEET
THERE IS A SOLE PROPERITORSHIP FIRM WHOSE OWNER IS A . A IS SHOWING BULDING IN ITS BALANCE SHEET AT ITS OWNERSHIP RATIO AND EXPENSES ON ERECTION OF BULDING IS PAID BY A FIRM CURRENT ACCOUNT IS IT RIGHT IF NOT THEN PLS ADVISE HOW TO SHOW LAND S BULDING IN EACH OF THEM BALANCE SHEET AND ERECTION ON BULDING COST IS TO PAID BY WHOOM AND EFFECT IN RESPECTIVE BALANCE SHEET
Ganeshbabu K
(Expert)
22 March 2021
Account payments as drawings if he dont want to use that building for business purpose.
You can create asset to his ownership ration otherwise.
You can create asset to his ownership ration otherwise.
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