What entries will be passed for following transactions in Company accounts:
a) A reserve created for purchase of land
b) Purchase of land
What entries will be passed for following transactions in Company accounts:
a) A reserve created for purchase of land
b) Purchase of land
entry for creating reserve
P&L appropraition dr
To Reserve
Being Reserve created for Purchase of Land
2.For Purchase of Land By debiting reserve
Dr Reserve for purchase of land
cr bank
sorry my second entry is wrongit will be
Dr Land
cr Bank
and the reserve standing in the books will be credited to p&l as no longer required
| Originally posted by :sivaram | ||
| " | sorry my second entry is wrongit will be Dr Land cr Bank and the reserve standing in the books will be credited to p&l as no longer required |
" |
| thnx | ||
| Originally posted by :sivaram | ||
| " | entry for creating reserve P&L appropraition dr To Reserve Being Reserve created for Purchase of Land 2.For Purchase of Land By debiting reserve Dr Reserve for purchase of land cr bank |
" |
Thanks
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