Triparty agreement
This query is : Resolved
Quick Summary
Pramila S. Karbele
(Querist)
08 July 2020
we are in construction business. allotted 1 flat to a party A. he paid us total sale price. now he selling the same flat to mr. B. Here final sale agreement will be between builder & mr. B.
1. Can we to triparty agreement stating mr. A as confirming party ?
2. what is the accounting treatement in books of accounts?
please guide.
1. Can we to triparty agreement stating mr. A as confirming party ?
2. what is the accounting treatement in books of accounts?
please guide.
CA R SEETHARAMAN
(Expert)
08 July 2020
1 Have tripartiate agreement and then excute sale deed with B.
2 consider B in the books of accounts by passing journal entry debiting A and crediting B for the payment received.
2 consider B in the books of accounts by passing journal entry debiting A and crediting B for the payment received.
Pramila S. Karbele
(Querist)
18 August 2020
very useful thank you so much
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