Answer Posted / dhulappa
Land is not depreciated because land is assumed to have an
unlimited useful life. Land is long term assets, since
land’s life is not limited, there is no need to allocate
the cost of land to any accounting periods
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Wipro Limited salary payable deduct tds entry Contrast bookkeeping and accounting is WCT aplicable on educational institutions also??????
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Want to know entry for closing of sundry creditors account on the end of the year when its accounts shows debit balance, Payment made excess.
E.g
Invoice rcvd : 100000.00 from XYZ company
payment Made: 105000.00
Please suggest best entry for the same