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Cost of building in balance sheet

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sidhigiri

Ipcc

170 Points Posted on 08 August 2018

2 BROTHER PURCHASE A PROPERTY OF RS 61 LAKH

AMOUNT PAID AS SUCH

4 LAKH BY BROTHER -A

27 LAKH BY BROTHER-B

LOAN BY A AND B- RS 30 LAKH

REGISTRY PAPER HAVE BOTH BROTHER NAME

NOW IN BALANCE SHEET OF BROTHER A WHAT AMOUNT WILL REPORTED 4 LAKH OR 61/2 = 30.5

THANX

Replies (7)

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 08 August 2018

What is the exact Ratio of Shares... It will be accounted as per the Ratio...

sidhigiri

Ipcc

170 Points Posted on 08 August 2018

1:1 BUT BROTHER -A PAID ONLY RS 4 LAKHS

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 08 August 2018

Dear.,

Check out the ratio...
Ask the details for principal payments if Mr. B and How it's treated both hands of brothers...
After got solution and it's details then You can get exact clarity...

Bcoz,
If Ratio is 1:1 then share will be 50/50...

So,
What about the loan amount and Principal amount of participation... Between A and B....

sidhigiri

Ipcc

170 Points Posted on 08 August 2018

LOAN AGREEMENT HAS BOTH BROTHER NAME AND NO RATIO MENTION IN THE AGREMNEt

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 08 August 2018

Ohhh no dear...!

What about the principal payments agreement (or any other mutual understanding) between A and B...

sidhigiri

Ipcc

170 Points Posted on 08 August 2018

THERE IS NO ANY MUTUAL AGREEMENT

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 08 August 2018

Sorry I didn't get any idea...

Also This is not a correct reply by You...

Check out the details of Initial payments details even any oral agreement or loan from A to B...

Without details no way for solutions...

Wait on further replies from Our CCI Experts... 😇😇😇