Query regarding accounting treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2015
I am working in a Construction Company which has taken contract for Platform Construction including laying of railway line.As per contract with client for some items, which is to be used in construction work, 100% payment will be made against that after purchasing the same, but we have to give to the client indemnity bond against that.what will be the treatment for that payment, though actual stock is laying in our Store??
Plz. help...
Plz. help...
11 July 2015
Treat is as capital goods in stock as contractor is holding the stock on your behalf by furnishing indemnity bond.
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