Donation for contruction material
This query is : Open
16 July 2011
If a society is getting the construction material as well as labour in donation partly. how to capitalise the building ????
CMA Ramesh Krishnan
(Expert)
16 July 2011
Credit to donation received account & Debit to Asset account for the value of materials received
19 July 2011
Thanks for the reply. but actual issue is that by what amount i should account for the donation. should it be done with nominal amount or actual amount of asset.
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