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Treatment for the advance payment of land acquisition

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Guest

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Guest (Querist)
16 November 2011 good Morning Sir/Mam,


I hve a questn tht when an org pays advance payment for acquisition of land , so under BS where it is shown..... as advance or as a capital WIP bez it is estabiling org.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
16 November 2011 The advance will be shown as an advance because the enterprise is PURCHASING the land.

If the enterprise had undertaken CONSTRUCTION, then the advance would have been shown as Building WIP.
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Guest

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16 November 2011 ok......thanks 4 ans.....but this land was purchased 4 power plant establisment purpose so.......
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