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    joewwe69's Avatar
    joewwe69 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Apr 20, 2009, 11:10 AM
    How I record a Land and building that the government give to a company?
    The government give to the company the land and the building. I recognized the Asset in DR but what have in CR. Because if the company close have to return the land and the building to the sponsor. I do in cr long term liability but don't recognized the income and the PL don't show the amount of the assets.

    Ej.

    Building and Land Asset DR
    Building and land refundable Long term Liability.


    But in the pl don't show the Asset Income
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Apr 20, 2009, 11:38 PM

    Assets aren't income. What are you referring to?
    joewwe69's Avatar
    joewwe69 Posts: 4, Reputation: 1
    New Member
    		  
    #3

    Apr 21, 2009, 10:19 AM

    How I recognized the asset with the journal and do depreciations
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