Gift received and given
This query is : Resolved
09 September 2012
please make me understand that, when we can treat gift received and gift given in balance sheet under the capital account.
09 September 2012
Gift received when u receive any gift in kind or cash. It should be shown as addition to capital.
Gift given when u give gift to someone in kind or cash. It should be shown as deduction from capital account.
Gift given when u give gift to someone in kind or cash. It should be shown as deduction from capital account.
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