Real Estate
Title Registration & Legal Fees (Capitalized)
Capitalizing legal fees, title registration costs, and notary charges into the cost of the property.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Building / Land (Fixed Asset) | Asset (+) | 8,500.00 | - |
| Cash / Bank | Asset (-) | - | 8,500.00 |
💡 Accountant's Note
Under IAS 16, all costs necessary to bring the asset to its intended use must be capitalized. Legal fees, title search costs, and registration charges are part of the acquisition cost of the property.
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