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Trust Finanacials, Other Topics |
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Trust Finanacials |
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A trustee is donating his land to the trust for construction of educational institution. A gift deed was executed in this regard. In the trust books, i am passing an entry "Land A/c Debit and Credit Trustee Account" - Is this correct ? Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Yes. it is correct.
From your query, it appears that you would treat trustee account as creditor or payables if it is so then you should pass the entry as under
Land Dr Corpus fund Cr Page: 1 Old Query - New Comments are closed. |
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