General Accounting Interview Question:

Suppose in Baance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?

Submitted by: Administrator

only 600000 worth of building is used for office purpose
so only 600000 will be showing in the balance sheet as the building used for residential purpose will not be shown as it is personal
Submitted by: Administrator