work in progress for a construction company this year is
Rs.5,00,000/-.In balance sheet Rs.5,00,000/- will be
debited under current asset a/c but the credit would under
which account.and next year what will be the entry.please
answer me in detail.
- 6 Answers
- 13101 Views
- I also Faced
- E-Mail Answers
Answer Posted / kvedhagiri
up to next year this work is not completed opening balance
of work in progress next year balance sheet.or suppose the
particular work completed the entry was passed total amount
of work in progress debit to particular building any other
credit the work in progress
| Is This Answer Correct ? | 3 Yes | 2 No |
Post New Answer View All Answers
What is the difference between perpetual and periodic inventory systems?
What are the criteria for accounting job?
Recent trends in Corporate Governence?
Explain what is the disadvantage of double entry system?
Cello pen gross value is 935.89 for 12 nos 14.5% tax
Why does the accounting equation have to balance?
total assets are equal to total liabilities in final accounts ?why?
WHY CST CHARGED BILLS ARE RETAIL INVOICES.IT CANT BE TAX INVOICE.
what is the due date of 28th feb
Tell me what is the master account?
how go make jaggery sales and purchace bill in tally 7.2,jaggery lumbs comes in different weight not fixxed weight and i want stock in lumbs and bill amount in rupees (exp.lumbs/weight/rate/amount-1000/102.50/2500/256250)
How is an accounting department structured?
Define the term material facts in accounting?
1.Which type of records maintaing for Hotels and provision Stores. 2.in Which type of returns we are going to file. tell me whos know brefiely,,
Where do we create House banks and what is the process in sap fico
