Question
My non-profit company received 4 parcels of land from another affiliated non-profit for "one dollar". I originally booked:
Debit Property Asset $1
Credit Cash $1
I'm reconciling my checking account and I'm off $1, because we never actually paid $1 for the properties. Instead of cash, what can I book this too?
donations in the income &expenditure a/c
Debit Property Asset $1
Credit Cash $1
I'm reconciling my checking account and I'm off $1, because we never actually paid $1 for the properties. Instead of cash, what can I book this too?
donations in the income &expenditure a/c
Answers
The answer is 14 protons.
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