PURCHASE LAND
This query is : Resolved
Quick Summary
Ashim kr Ray
(Querist)
14 June 2021
Sir,
I have purchase land ,whether i have to deduct the amount in capital A/c .
I have purchase land ,whether i have to deduct the amount in capital A/c .
Ganeshbabu K
(Expert)
14 June 2021
if land is not for business purposes and you bought from business money
yes account payment made as drawings- which reduce your capital balance
yes account payment made as drawings- which reduce your capital balance
Message likes :
1 times
21 October 2021
As such it will reduce your bank balance; the capital account may not get affected.
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