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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2812)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4364)
Question
Tell me if the company wants to enhance thier business and 
incured the cost on other building (like Buliding Material, 
Iron and Others) so we will put it in to the expenses or i 
have to put it into the Fixed asset land and buildin by 
passing this entry
Land and Building (Dr)
     Bank/Cash/Detors) (Cr)

Thanks
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Mr.verma,
In question it is not clear that building is under
construction or old building .

If building is under construction then it will be
captalized other wise if old building it will be booked in
Repairs and maintenence(Building)
 
Is This Answer Correct ?    3 Yes 0 No
Mayank Verma
 
Answer
# 2
You are right it should be captalized. 
Is This Answer Correct ?    0 Yes 0 No
Motilal Verma
 
 
 
Answer
# 3
Yes dear Thanks for Answer its mean i m rigt so the
buildong is under construction all expenses related with go
to the building a/c
 
Is This Answer Correct ?    0 Yes 0 No
Sajjad1
 

 
 
 
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