How to deal with the purchase of housing land and account for it?

1. According to Article 47 of the Accounting System for Enterprises, the land use right acquired by an enterprise by purchasing or paying the land transfer fee shall be accounted as intangible assets before the self-use project is developed and constructed, and amortized in installments according to the prescribed period. If the purchased land is directly used for the development of commercial housing, it shall be included in the subject of "development cost-compensation for land acquisition and demolition" according to the land cost. 2. Paid-in capital refers to the capital directly invested by investors in the enterprise, which can be monetary funds, physical assets and intangible assets. Land invested by a development company can be recorded as "paid-in capital"; On the contrary, the purchased land cannot be included in the paid-in capital account.