accounting of donation in kind

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Devesh (Querist)
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04 April 2009 If an trust receives donation in kind say Ambulance at what price it should be recorded in the books of the trust

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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04 April 2009 If the donation is along with a letter for that this doantion will form part of corpus then the entry will be

Ambulance A/c Dr
To Corpus Donations / Corpus Fund

If the donation is without a letter direting it to be a corpus it becomes a regular donation then

Ambulance A/c Dr
To donations received

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Devesh

Devesh (Querist)
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05 April 2009 thanks for r ur reply

But what i m asking is the price. Whether it should be a nominal value or market value or anything else?

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