Accountancy, asked by krishnaas209, 8 months ago

Why is building fund after the purchase of building transferred to capital fund. What is the logic behind it

Answers

Answered by aryakute2006

Answer:

Treatment of donation

Any donation received in the form of a non-cash asset should be credited to the particular fund for which the asset has been donated. In case of absence of such particular fund, the amount should be credited to the capital fund account.

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