Scribd Logo
Upload

Welcome to Scribd!

  • BUILDING

    Uploaded by

    Khira Jade Soul
    6 views8 pages
    This document discusses the accounting treatment for purchasing a commercial building. It notes that the building would be recorded as a non-current asset on the balance sheet under property, plant and equipment. Specifically, the building would be debited to the building account for its cost of ₱800,000, with an offsetting credit to the cash account to record the cash payment.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document discusses the accounting treatment for purchasing a commercial building. It notes that the building would be recorded as a non-current asset on the balance sheet under property, plant and equipment. Specifically, the building would be debited to the building account for its cost of ₱800,000, with an offsetting credit to the cash account to record the cash payment.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views8 pages

    BUILDING

    Uploaded by

    Khira Jade Soul
    This document discusses the accounting treatment for purchasing a commercial building. It notes that the building would be recorded as a non-current asset on the balance sheet under property, plant and equipment. Specifically, the building would be debited to the building account for its cost of ₱800,000, with an offsetting credit to the cash account to record the cash payment.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    BUILDING

    BUILDING

     Balance Sheet
    BUILDING

     Assets
    BUILDING

     Non Current assets


    BUILDING

     Property, Plant and


    Equipment
    Example:

    1. The company purchases a


    commercial building for ₱ 800,000 in
    cash.
    T – ACCOUNT

    BUILDING CASH
    =
    DEBIT CREDIT DEBIT CREDIT
    ₱ 800,000 ₱ 800,000
    THANK YOU!!!

    You might also like