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
- 13052 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
April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.
Tell me deferred taxation is a part of which equity?
Tell me what would you say are the most important qualities of an account manager?
Hai Experts can any one send me some finance interview questions ,my mail id is c.sujatha2008@gmail.com,please send quickly it's so need.
Describe the proof of cash type of bank reconciliation?
What is band and why the company needs this?
What do you mean by balancing of ledger account?
Can a firm claim preliminary expenses incurred(manufacturing) or only its is applicable to Companies? can a firm claim ,1/5 of such expenses incurred as deduction as in case of Companies? or any other procedure.
How do I charge bank charges on payments to clients
Tell me do you have any idea about service tax or excise?
professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally
PRELIMINARY EXPENSES INCURRED IN THE YEAR OCTOBER 2012 MONTH 5LAKS WHICH ACCOUNTED IN ASSET SIDE AS ''PRELIMINARY EXPENSES''... IN YEAR END MARCH 2013, IN 5LAKS HOW MUCH AMOUNT SHOULD TAKE FOR PRELIMINARY EXPENSES WRITTEN OFF..?
how we can calculate sundry debtors and crditors a/c?show some examples
what are your current financial and accounting projects? What is your role?
Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
