A not-for-profit organization was the recipient of a significant fixed asset donation. The assets, a building valued at $82,000, and one acre of land, valued at $210,000, are going to be used by the organization for office space and parking. The donor's net book value of the building was $22,000, and of the land, $65,000. The not-for-profit organization should record the assets at a total value of $147,000. $292,000. $104,000. $87,000

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Business

Devan Williams

16 November, 22:30

A not-for-profit organization was the recipient of a significant fixed asset donation. The assets, a building valued at $82,000, and one acre of land, valued at $210,000, are going to be used by the organization for office space and parking. The donor's net book value of the building was $22,000, and of the land, $65,000. The not-for-profit organization should record the assets at a total value of $147,000. $292,000. $104,000. $87,000

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Amaris Romero · Answer 1

Answer:$292

Explanation:

Since the asset is a gift that has an organised market where the prevailing market price can be determined it should be valued at the prevailing market price. This represents the fair value of the asset and it represents the most equitable price.