Cost of sale

All these expenses needs to be included in the cost of the asset since it is incurred during the period of construction.

Thanks for Replying Mr.Baig ,

Could you please Solve given below example because I'm little bit confused about its accouting treatment. 

Suppose, I purchased a plot @ Rs. 5,000,000 with down payment of Rs. 2,000,000 on date Apr 01, 2016. Rest of the amount Rs. 3,000,000 will be payable in 3 installment within one year .Date of Installment are Jul 01, 2016 and Oct 01, 2016  and Jan 01, 2017 . I paid the installments on date Jul 20, 2016 , Oct 074, 2016 and Jan 17, 2017 respectively .Vendor Charged me penality Rs. 50,000 at the time of transfer of plot on completion of installment. He also charge me Rs. 75,000 as a possession & transfer charges . Can Please do the necessory general entries with respect to their date.

An early resposne will be highly appreciated.

Thanks

Khurram Shehzad