Dear sir,
I'm accountant of real estate company & maintain construction accounting in college, but some expenses head not clear. please help me.
A payment for soil for ground leveling in college. what is LEDGER head & is it expense or assets.
thanks as advance for reply.
Hello,
As per your query what i understood is you want to know the account head for soil bought for ground levelling.
If the college is constucting a new building then capitalize the cost. If not, then debit it to Ground levelling exp, and clasify it as indirect expense.
Thanks,
Tanvi
CAclubindia
