1. A manufacturing entity receives a grant of $1m towards the purchase of a machine on 1 January 20X3. The grant will be repayable if
1.A manufacturing entity receives a grant of $1m towards the purchase of a machine on 1 January 20X3. The grant will be repayable if the entity sells the asset within 4 years, which it does not intend to do. The asset has a useful life of 5 years.
What is the deferred income liability balance at 30 June 20X3?
$,000
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Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
