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On December 31, year 2X10, a not-for-profit organization receives from a donor land contribution with a fair value of $126391 and a building with fair
On December 31, year 2X10, a not-for-profit organization receives from a donor land contribution with a fair value of $126391 and a building with fair value of $424840. Both land and building were originally purchased by donor in year 1 for $79947. As of December 31, year 2X10 the building had a remaining life of 20 years. Starting January1, year 2X11 the organization used the building for after-school activities for children. What should be the total balance in the deferred contribution accounts at the end of year 2X20, if the organization uses the deferred contribution method of reporting
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