On January 1, 2021 the national government provided a grant to Brgy ACYFA2 amounting to 24,000,000 intended to construct a new barangay hall provided that the said construction was finihsed August 15, 2021 for an amount of P32,000,000 with best estimate of the useful life at 40 years

On December 31, 2022 how much should be the ending balance of the recorded contra asset against the building barangay hall

Answer: 1,100,000. show solution