accounting of donation in kind
This query is : Resolved
04 April 2009
If an trust receives donation in kind say Ambulance at what price it should be recorded in the books of the trust
CA. B.SRINIVASULU
(Expert)
04 April 2009
If the donation is along with a letter for that this doantion will form part of corpus then the entry will be
Ambulance A/c Dr
To Corpus Donations / Corpus Fund
If the donation is without a letter direting it to be a corpus it becomes a regular donation then
Ambulance A/c Dr
To donations received
Ambulance A/c Dr
To Corpus Donations / Corpus Fund
If the donation is without a letter direting it to be a corpus it becomes a regular donation then
Ambulance A/c Dr
To donations received
Message likes :
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05 April 2009
thanks for r ur reply
But what i m asking is the price. Whether it should be a nominal value or market value or anything else?
But what i m asking is the price. Whether it should be a nominal value or market value or anything else?
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