An private educational trust purchased a land and started constructing a school ... .Purchase of material shld be added to construction of building or shld be debited to income and expenditure .
2 Replies
Prakash Gehani
(Consultant & Teacher(Whatsapp 8718057907))
(1306 Points)
Replied 20 June 2019
Material should be added to Construction of building
Radhika Harsha
(Chartered Accountant)
(72 Points)
Replied 20 June 2019
materials used for construction of the building should be capitalized in the books of account and not debited to income and expenditure account
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