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Accounting for fixed asset received as donation
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We r a co-op hsg society and we r having a flat in society name.
But we hv not separately account in the books of accounts but shown as a unit value and b unit value
Now we intend selling the flat for using for major repairs. now should we separately account in the books of accounts with a particular value.this flat was purchased way back in 1974 and in 2012 the society was redeveloped and the society flat became bigger just like other flats.
Kindly advise
S Venkitasubramanian
Treasurer
Manav Kalyan CHS Ltd
Bangur Nagar goregaon West
Mumbai 400104
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