At the beginning of the year, a donor gave the World Wildlife Fund a building with a fair value of $25 million. The donor specified that the building must be used by World Wildlife fund for at least five years. The facility has a useful life of 25 years.
Required
Prepare journal entries to record the events described for the year. If an account affects net assets, indicate which category of net assets is affected.

Question

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The Answer of At the beginning of the year, a donor gave the World Wildlife Fund a building with a fair value of $25 million. The donor specified that the building must be used by World Wildlife fund for at least five years. The facility has a useful life of 25 years.
Required
Prepare journal entries to record the events described for the year. If an account affects net assets, indicate which category of net assets is affected.

At the Beginning of the Year, a Donor Gave the World