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

    Sep 21, 2010, 11:46 PM
    Donated land
    What's the accounting treatment of donated land？
    hamzashakaa's Avatar
    hamzashakaa Posts: 161, Reputation: 8
    Junior Member
    		  
    #2

    Sep 22, 2010, 04:55 AM
    If the land is received from a government agency then you should record the land at fair value and you should credit the donated capital account in the equity section of the balance sheet. If the donation is received from a nongovernmental agency then you should record a gain on receipt of a donated capital in the income statement.
    hamzashakaa's Avatar
    hamzashakaa Posts: 161, Reputation: 8
    Junior Member
    		  
    #3

    Sep 22, 2010, 07:36 AM
    Yes you should use this account in case of revaluation
    YYstella's Avatar
    YYstella Posts: 4, Reputation: 1
    New Member
    		  
    #4

    Sep 22, 2010, 08:21 AM
    Comment on hamzashakaa's post
    could u also help me with this
    one,thank you!
    https://www.askmehelpdesk.com/go/explore.php?do=showthread&t=509792
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #5

    Sep 22, 2010, 12:17 PM
    Yystella, if you want to respond to someone, please scroll down and use the answer box instead of the little comment thing. (We'll call it a "technical issue" but the comment box was only meant for just like a quick thank you or something, not a follow up post.)
    wilkal04's Avatar
    wilkal04 Posts: 1, Reputation: 1
    New Member
    		  
    #6

    May 29, 2012, 03:18 PM
    You can not book a gain at donation... you just credit a Paid In Capital Account. Gain, if any will be recognixed when sale...
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #7

    May 30, 2012, 03:41 AM
    Why does this question show zero answers and yet has several answers?
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