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-   -   Asset that was free (https://www.askmehelpdesk.com/showthread.php?t=208187)

  • Apr 21, 2008, 01:48 PM
    csmithinbham
    Asset that was free
    How do you record an asset that was free?
  • Apr 21, 2008, 01:49 PM
    csmithinbham
    How do you record an asset that was free?
  • Apr 21, 2008, 03:30 PM
    MaggieMouse
    No journal entry is needed.
  • Apr 22, 2008, 01:24 PM
    CaptainForest
    So some random, unassociated person gave your company some asset for free?

    Dr. Asset (at its fair market value)
    Cr. Shareholder's Equity

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