Ex. 10-136-Donated assets. Cheng Company has recently decided to accept a proposal from the City of...
Colin Company has recently decided to accept a proposal from the city of New York that publicly owned property with a large warehouse located on it will be donated to Colin if Colin will build a branch plant in New York. the appraised value of the property is $330,000 and of the warehouse is $825,000. prepare the journal entries prepare the entry by Colin for the receipt of the properties