A Not-For-Profit Organization Was the Recipient of a Significant Fixed

question 34

Multiple Choice

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

• A) $87,000.
• B) $104,000.
• C) $147,000.
• D) $292,000.