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Donation sale


Prathamesh Mungekar   12 August 2020

Prathamesh Mungekar

 1 points

| My Other Post

If i receive Land as a donation and sale, what would be the entry?

avater

manu (Accountant)     12 August 2020

manu
Accountant 
 2 likes  22 points

View Profile | My Other Post

Asset a/c(land) dr
To Revenue a/c
This records the asset on the company's books and also records revenue from receiving the donation.

avater

Madhu M (TAX Assistant)     14 August 2020

Madhu M
TAX Assistant 
 1 likes  94 points

View Profile | My Other Post

Dear sir

If i sale Goods As donation and , what would be the sale entry ??

What is the limit for donation sales ??if  cash or Bank ??

Please suggest me 

 

Thanks in Advance 

Madhu M


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