Balance sheet - market value or purchase value
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2016
respectedsir
while preparing balance sheet for the purpose of bank lone i have to include one of my vacant sites (offered as collateral security) under fixed assets . and it was purchased 20 years before at the cost of thirty thousand rupees and present market value as certified by charted engineer is 40 laks.i like to know that , whether i have to show the purchase value (as per the purchase document) or market value of my site.
thanking you
while preparing balance sheet for the purpose of bank lone i have to include one of my vacant sites (offered as collateral security) under fixed assets . and it was purchased 20 years before at the cost of thirty thousand rupees and present market value as certified by charted engineer is 40 laks.i like to know that , whether i have to show the purchase value (as per the purchase document) or market value of my site.
thanking you
22 November 2016
U must show it as market value.
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