Fred Bosin donated land and a building to Palma City in 2006. Bosin's cost of...
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Accounting
Fred Bosin donated land and a building to Palma City in 2006. Bosin's cost of the land and building was S100,000. Accumulated depreciation of the building on the date of the gift amounted to $60,OOO. The fair value of the land and building on the date of the gift was $200,000. In a journal entry for the voluntarily maintaned general Capital assets account group, the total amount to be recorded for the donated plant assets is:
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