Regarding journal entry for land received as donation

This query is : Resolved

CA Shyam Agarwal (Querist)
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27 March 2015 Hello Friends
A trust registered u/s 12A received a land as a donation for running the school (i.e. For charitable purpose) so plz tell me what journal entry will pass in book of A/c.

waiting your reply

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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27 March 2015 Land a/c....dr
to Corpus fund a/c (means like capital a/c)

CA Shyam Agarwal

CA Shyam Agarwal (Querist)
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31 March 2015 Thank you Tushar Sampat

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 March 2015 you are welcome shyam...........

CA Shyam Agarwal

CA Shyam Agarwal (Querist)
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01 April 2015 Tushar ji one more thing I would like to know that What Value should be taken for Land in books of Account, we paid 1100000 for stamp purchase for this

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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01 April 2015 u need to book at gross value i.e all the exp like reg fees etc should also be capitalised along with purchase price.