Cost of acquisition
Vijay Mohan (637 Points)
09 December 2020Vijay Mohan (637 Points)
09 December 2020
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 09 December 2020
Land a/c
To Fixed assets a/c
land is separated from fixed assets
then land is valued at lower of net book value and net realisable value
Bank a/c
To Profit on sale a/c
after selling land. Then write off land from asset side.
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