Acquired by Gift
This query is : Resolved
10 May 2010
what is the accounting treatment of investment acquired by gift in the hands of donor & donee.
10 May 2010
In case of donee is individual Credit the capital account as gift received with the amount as paid by the person whose assets have been received as gift and debit the relevant asset head.
In case of donor is individual debit the capital account as gift given and credit the relevant asset head.
In case of donor is individual debit the capital account as gift given and credit the relevant asset head.
10 May 2010
What will be the entries in case donor & donee both are companies & at what value it will be shown in the books of donee.
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