Difference between material in transit and capital work in
progress
Answers were Sorted based on User's Feedback
Material in transit will not be accounted unless u have
clear title and transfer in your (company's name) name. It
will not be taken as inventory.
Whereas Capital work in progress, where the project is
under implementation, due to progress in work and
implementation, the half-finished work will be treated as
Capital work in progress and added to your Fixed Assets in
the Balance sheet. No depreciation will be provided on
Work in progress value. On completion, the amount will be
capitalised and added to the concerned Asset value like
Buildings, plant & machinery, Electrical items etc.
Is This Answer Correct ? | 9 Yes | 2 No |
Answer / venkatesh
material in transit and capital work in progress are two
different words.
material transit means the Raw material is in the position
of final product but those are also deliverd to the third
party but those are in transit.
work in progress means the material is in the position of
not in final product or finished goods those goods are to
be used in the future course of action.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / senthil kumar
Material in transit which means goods are manufactured as
per the customer need and that goods are dispatched from
manufacturing unit to customer place that period of time
was called as material in transit.
capital work which means capital is nothing but cash. so
company will work to making up the capital wealth high that
is called as capital work.
Is This Answer Correct ? | 4 Yes | 7 No |
what are thw diferrences between a cash book & a petty cash book?
What type of questions in accouting point of respect they ask genrally plz help me find out this.
Tangible & Intangible Assets? Is goodwill a Tangible or Intangible Asset? Goodwill is an intangible asset.
KINDLY PROVIDE ME RBI OFFICER SCALE B QUESTION PAPER (PREVIOUS)
A borrower pays $1000 towards the late payment penalty to a bank A pass the necessary journal entry
EXPAND______________RAC
what the course to be necessary after Graduation for professionl Accountant
What is compensation theorem?
whether securities premium includede in calculation of Net Worth.
we want all sbi previous questions papers in our e.mail krishna2043 on yahoo
In SAP FICO How many ways we are Procuring the assets in the Company?
how to see the resluts of the bank clerical exams? can someone help me on tis.. i've written oriental bank of commerce but not able to know my resluts...
0 Answers Oriental Bank Of Commerce,