n January 1, 2021, Entity A received land with fair of PHP 200,000 from the govermment nditioned on the construction of a building on the lot. Entity A started immediately the nstruction and it was completed on December 31, 2021 for a total cost of PHP 1,000,000. The ilding has an estimated useful life of 10 years and zero residual value. ow much is the income from the government grant in 2021 and 2022 respectively? 2021 2022 a. 0 200,000 b. 200,000 c. 0 d. 20,000 20,000 20,000

n January 1, 2021, Entity A received land with fair of PHP 200,000 from the govermment nditioned on the construction of a building on the lot. Entity A started immediately the nstruction and it was completed on December 31, 2021 for a total cost of PHP 1,000,000. The ilding has an estimated useful life of 10 years and zero residual value. ow much is the income from the government grant in 2021 and 2022 respectively? 2021 2022 a. 0 200,000 b. 200,000 c. 0 d. 20,000 20,000 20,000

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Description: On January 1, 2021, Entity A received land with fair of PHP 200,000 from the govemmentconditioned on the construction of a building on the lot. Entity A started immediately theconstruction and it was completed on December 31, 2021 for a total cost o

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter17: Business Tax Credits And The Alternative Minimum Tax

Section: Chapter Questions

Problem 11P

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