A government is the recipient of a
bequest of a multi-story office building that the government
intends...
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Accounting
A government is the recipient of abequest of a multi-story office building that the governmentintends to use as a new city hall. The building has a historicalcost of $850,000; a book value in the hands of the benefactor of$700,000; and a fair value of $1,050,000. The city should recognizeon its governmental fund financial statements donations revenueof
$-0-.
$700,000.
$850,000.
$1,050,000
Explanation to the answer please
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Answer d 1050000 Explanation In the given question we have been provided with the information that Government in the recipient of a bequest of a multistory office building
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