Treatment for the advance payment of land acquisition
This query is : Resolved
Guest
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.
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.
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.
If the enterprise had undertaken CONSTRUCTION, then the advance would have been shown as Building WIP.
Guest
Guest
(Querist)
16 November 2011
ok......thanks 4 ans.....but this land was purchased 4 power plant establisment purpose so.......
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