Computer purchased and gifted to students by university

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Ranju (Querist)
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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.

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Ranju

Ranju (Querist)
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16 May 2016 Dear Expert,
Please help me to resolve
This doubt kindly explain with relevant examples and Clarifications.

Rupesh Jain

Rupesh Jain (Expert)
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16 May 2016 you can debit

computer to student a/c
to party a/c

its revenue exp.

Ranju

Ranju (Querist)
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16 May 2016 Thanks for response but kindly explain with some references.

Ranju

Ranju (Querist)
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17 May 2016 Dear Experts,
Kindly help we with some references.
Urgently required for audit .

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