We have acquired Leasehold Land & incurred development costs like soil excavation, land cutting, etc. Can we capitalise the above development costs by debiting it to "Leasehold Land A/C" ?????
Please advise.
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Accounting treatment of land development cost
Replies (1)
Undopubtedly you can capitalise the expenses incurred on land development to Land a/c ,till the land is brought to the shape usable for its intended use.
kkm
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