Sounds simple, maybe it is not. Proceeds would be revenue, charitable revenue. The amount of tax deduction available may be discounted if the donor got something in return for the gift, e.g. a very nice dinner.
Double Entry Accounting is introduced by Lucas Paciolli
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
Matching" in accounting means to make an entry in the journal
The journal entry is the accounting entry which lists the goods that are bought on credit.
The accounting entry for sales return under warranty is the accrued warranty liability. This entry is written under warranty expense.
account or accounting equation
What entry can we post to Office Maintenance Account in accounting
what is the accounting entry for provision for audit fees
closing entry of an asset means the adjustment entry we do on the last day of accounting year.
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
For the modified accrual basis of accounting what would be the entry to record the purchase of an building?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.