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On January 1, 20x1, Entity A received a land with fair of P200,000 from the government conditioned on the construction of a building on the

On January 1, 20x1, Entity A received a land with fair of P200,000 from the government conditioned on the construction of a building on the lot. Entity A started immediately the construction and it was completed on December 31, 20x1 for a total cost of P1,000,000. The building has an estimated useful life of 10 years and zero residual value.

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How much is the income from government grant in 20x1 20x2, respectively? 20x1 20x2 200,000 b. 200,000 0 co 20,000 d. 20,000 20,000 a 0

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