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Compute the amount to be recorded for donated plant assets

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Question - Fred Bosin donated land and building to Palma city in 2006. Bosin's cost of the land and building was $100,000. Accumulated depreciation of the building on date of the gift amounted to $60,000. The fair value of the land and building on the date of the gift a was 200,000 in a journal entry for the voluntarily maintained general capital assets account group, compute the amount to be recorded for the donated plant assets?

Reference no: EM132701082

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Compute the amount to be recorded for donated plant assets : Fred Bosin donated land and building to Palma city in 2006. Bosin's cost of the land and building was $100,000. Compute the amount to be recorded
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