Entry for capital goods purchased and gifted to students

Ranju (Accounts Officer) (55 Points)

15 May 2016  

Hi,

Kindly help me in this entry computer purchased  and gifted to students . How the entry to be passed as it is not asset of the university

But whether it has to be treated as  revenue expense or capital expense.

It is not a asset of university. So  we cannot treat as fixed asset

Please help me in this entry.