Accounting treatment for donation given in kind to a trust
This query is : Resolved
V.C SaiRam
(Querist)
04 August 2013
sairamadithya831@gmail.com
08 August 2013
In the books of the owner the asset amount will be written off as donation.
There will be no treatment in the books of the trust since the asset is in kind. Only monetary transactions are recorded in the books of accounts.
There will be no treatment in the books of the trust since the asset is in kind. Only monetary transactions are recorded in the books of accounts.
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V.C SaiRam
(Querist)
08 August 2013
Thank you sir
08 August 2013
You are welcome. You should use the thanks button to convey your thanks.
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