Value of land for accounting purpose
This query is : Resolved
24 December 2016
hello, experts!
my question is
I bought an agriculture land suppose for rs 700000 but till next year I pay only rs 500000.
than what will be value of such land in the balance sheet?
my question is
I bought an agriculture land suppose for rs 700000 but till next year I pay only rs 500000.
than what will be value of such land in the balance sheet?
24 December 2016
Land value will be 7 lacs in the balance sheet. Show the payable amount under liabilities.
24 December 2016
WELL,
i purchase that land from goverment.
then which account i should mention in liability side?
i purchase that land from goverment.
then which account i should mention in liability side?
24 December 2016
Mention the respective Govt.
24 December 2016
I presume that you have just paid some instalments to the government towards purchase of land. If it is so, then you have to show the amount as ADVANCE FOR LAND Rs.5,00,000.
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