Question
Hi, the question is on the image. On 1 July 2017, Telus Bhd received a government grant of RM650,000 to acquire a plant. The fair
Hi, the question is on the image.
On 1 July 2017, Telus Bhd received a government grant of RM650,000 to acquire a plant. The fair value of the plant is RM3,200,000. The expected useful life of the plant is 50 years with a nil residual value. The company adopts the straight-line monthly basis method of depreciation. Telus Bhd treats the grant received as a deduction against the asset.
On 1 January 2020, Telus Bhd no longer comply to the condition attached to the grant and the grant has become repayable in full.
The financial year of Telus Bhd ends on every 31 December.
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
