From last three year a firm was having tax audit and the cost of building was not shown in balance sheet .
And onwards from now I have to show the cost in balance sheet .
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How can I show a buliding in balance sheet??
Replies (4)
Quick Summary
Increase the capital to the extent of value of building
But what about cash.?
What cash? I can't understand
suppose if the value of building is 50 lakhs, increase the capital to the extent of 50 lakhs and show the value of building I. e. 50 lakhs under the heading fixed assets
suppose if the value of building is 50 lakhs, increase the capital to the extent of 50 lakhs and show the value of building I. e. 50 lakhs under the heading fixed assets
If in Case i don't want to increase capital because already i have enough capital
.
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