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accounting of donation in kind

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(Querist)
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
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
04 April 2009 DR. the vehicle account and credit the donation account with the value of vehicle means the amount spent by the donor for buying the vehicle.

Vehicle is a fixed asset for the trust.

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