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P purchased 1,000sq.meter land for 3 …

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P purchased 1,000sq.meter land for 3 cores to build a factory. At the end of the year market value of land was 2.70 cores. P treated 30 lakhs as loss and recorded the land at 2.70 crores. Is this is a correct treatment

    • Posted by Priyanka Jangid 5 years, 11 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Siddharth Jain 7 years, 4 months ago

    Yes 30 lakhs is depriciated value of land.

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