Sir, good morning, I have one query regarding , Vacant site received from my mother as an settlement in the financial year 2017-2018 , that the same how to be shown in balance sheet , and what accounting treatement will have to give to complete the transaction.
Fair market value of the property is Rs.821500/-excluding stamp duty .
Kindly give your valuable opinion in this regard.
Pl pass following Journal entry -
Cash / Asset / Bank A/c Dr. xxxx
To Capital A/c xxxx
ADY & CO.
New Delhi
Graduate (Any)
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HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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CA Suraj Garg & Associates
New Delhi
CA Final
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CCI
Pro
CAclubindia
