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Donations received in Kind

This query is : Resolved 

A Trust has received a second hand bus as donation. The trust has incurred expenditure for registration with RTO and insurance. How to account this bus in the Trust? And at what value?


Account it as donation at fair market value and capitalise the bus. Expense it registration and insurance expenses.

And how to find out the fair market value?

Dealer of such bus can give you it's value.


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