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What is accounting entry of gift received by business entity?

Business Information Data Analysis Data Entry Technology Accounting and Finance
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Question added by Wasim khan wazir , Finance Specialist , Mott Macdonald
Date Posted: 2015/06/06
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Waqar khan
by Waqar khan , Audit Associate , PwC

Gift A/c Debit

Capital A/c credit

Gift should always be valued at its fair price

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