Q&A: If a business is given a sum of money as a gift is it recorded in the accounting system as revenue?

Question by hi: If a business is given a sum of money as a gift is it recorded in the accounting system as revenue?

Best answer:

Answer by Andrew Presti
No…Most likely will be shown as a capital contribution or a loan from you to the company.

Andrew C. Presti
Partner
Presti & Naegele
450 Seventh Avenue, Suite 503
NY, NY 10123
Tel: 212-736-0055, x-321
Cell: 917-833-1602
Fax 917-475-8323
andypresti@prestinaegele.com
www.prestinaegele.com

With offices in Long Island, NY and Philadelphia, PA

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