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    toyinayanwale's Avatar
    toyinayanwale Posts: 1, Reputation: 1
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    #1

    Oct 13, 2009, 10:11 AM
    Treatment for Donated Non-Current assets
    How do I treat Non-Current Assets Donated to a Community Bank in the year end financial statements.
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Oct 13, 2009, 07:05 PM

    First of all get them valued.
    To enter assets in a set of books you must
    have dollar values.

    DEBIT Non-Current Asset Account
    CREDIT Community Bank FUND Account.
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