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Donation for contruction material

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(Querist)
16 July 2011 If a society is getting the construction material as well as labour in donation partly. how to capitalise the building ????
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 July 2011 Credit to donation received account & Debit to Asset account for the value of materials received
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Adil

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Adil (Querist)
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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