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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.
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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 |
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