How the charity record and treat the donated stock, Accounting Basics

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How the charity record and treat the donated stock

Question: Goodwill Company is a publicly held corporation, and its capital stock trades on the Nasdaq exchange. This year the company contributed 18,000 shares of its stock to a local charity. At the date of the contribution, the stock was selling for $12.00. How should the charity record and treat the donated stock and why?

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Accounting Basics: How the charity record and treat the donated stock

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