Question
On January 2, 2019, Company A received a grant of Php 60,000,000 to compensate it for costs it incurred in planting trees over a period
On January 2, 2019, Company A received a grant of Php 60,000,000 to compensate it for costs it incurred in planting trees over a period of five years.
Company A will incur such cost in this manner:
YearsCost
20192,000,000
20204,000,000
20216,000,000
20228,000,000
202310,000,000
What amount of income should Company A recognized for the year 2021?
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Corporate Financial Accounting
Authors: Carl S Warren, Jeff Jones
16th Edition
0357510380, 978-0357510384
