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what is capital work in progress?
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Answer / sanjeep kumar pati
It is the capial expenditure made by the company for a
work/setting of a project etc and which is not completed
when its financial statement is prepared. The total amount
so expended till the end of the accounting year is taken as
an asset for the company for that year under the head
capital work in progress.
For Exsmple: A building is under constructed and the
expenditure is 70,00,000 till date of balance
sheet.Hence,this should be treated as an asset for the
company.This is Capital work in progress.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / n.veeranjaneyulu
IF ANY PAYMENT/ADVANCE MADE TO ACQUIRE THE FIXED ASSET AND
WHICH IS NOT READY TO USE IN THE BUSINESS IS CALLED CAPITAL
WORK-IN-PROGRESS AND IT WILL SHOWN UNDER CURRENT ASSETS,
LOANS AND ADVANCES
| Is This Answer Correct ? | 11 Yes | 9 No |
Answer / weston sichamba
This is an asset under construction from which the future
cash inflow is expected to come to an entity.This recognized
under Fixed assets in the balance sheet.
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / syed ashfaq hussain
It is the expenditure made by the company for acquiring an
asset or setting up a new project generally which is not
complete within the financial year for which the financial
statement is prepared is called capital work in progress
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / istiyaque alam
Capital WIP is that portion of fixed assets which over the
period of tym get converted into its finished form .
Example : construction of pipeline , it normally takes
several year to accomplish & each accounting period ,
expenses incurred for it is booked under Capital WIP head.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / manjunath m s
Asset which is not an asset but capital but not a capital
even though it is an asset equal to liability minus asset.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / balmu und
Capital work in progress is a function of two accounting terms: capital and work in progress. Companies use capital work in progress to track and account for uncompleted building and construction.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rohit sharma
it,s come under the head fixed asset ,because it is capital expenditure on modification or re-construction of fixed asset.
nature of expenditure :- capital expenditure.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / amir
the capital available in the form of liquid assets which
company uses to invest and reinvest purpose in called
capital in progress.the return on which is receivable in
near future
| Is This Answer Correct ? | 4 Yes | 5 No |
Answer / llncharyulu
this should be shown seperatetly, since this is not capitalised.
| Is This Answer Correct ? | 1 Yes | 2 No |
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