This discussion concerns the sale of a building where the selling price (£2,500,000) significantly exceeded its cost value (£1,430,000). The user is seeking advice on whether they can directly book the profit from this difference or if they should first credit their capital account with the gain.
04 August 2025
Hi, individual who sold his building for 2,50,00000 but it's cost value 1,43,00000 can I book the profit for the difference amount or credit capital account