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Donation sale

Prathamesh Mungekar   12 August 2020

Prathamesh Mungekar

 1 points

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


manu (Accountant)     12 August 2020

 2 likes  22 points

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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.


Madhu M (TAX Assistant)     14 August 2020

Madhu M
TAX Assistant 
 1 likes  94 points

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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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