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Categories >> Accounting >> Accounting AllOther


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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)

 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
# 1
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
# 2
You are right it should be captalized. 
Is This Answer Correct ?    0 Yes 0 No
Motilal Verma
# 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

Other Accounting AllOther Interview Questions
  Question Asked @ Answers
How do the accounting standards facilitate the work of accountants?   1
EXPAND___________JPC   1
Expand I B R D   4
Expand---------RTPS   1
Please mention the procedure of Deducted TDS on Salary? If My Salary is Rs.250000/- PA. than how to deduct TDS on it?   11
what is the difference between pay order & D.D.? ICICI 11
What is the nature of Bills Receivable account, I mean is it a real account or personal a/c?   6
What is means by A/c in Accountancy ?   6
what is accountig methods? Genpact 8
When does services tax liability arise? Is the liability on the recipient or the payer? What is the general rate of ST applicable?   2
Let me know why we debit expenses and credit revenues   3
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