Problem 16-6 (IFRS) On January 1, 2020, Humble Company received a government grant of P60,000,000 to compensate for costs to be incurred in planting trees over a period of 5 years. The entity will incur such costs at P2,000,000 for 2020, P4,000,000 for 2021, P6,000,000 for 2022, P8,000,000 for 2023, and P10,000,000 for 2024. What amount of income from the government grant is recognized for 2020? 12,000,000 b. a. 10,000,000 6,000,000 4,000,000 с. d.
Problem 16-6 (IFRS) On January 1, 2020, Humble Company received a government grant of P60,000,000 to compensate for costs to be incurred in planting trees over a period of 5 years. The entity will incur such costs at P2,000,000 for 2020, P4,000,000 for 2021, P6,000,000 for 2022, P8,000,000 for 2023, and P10,000,000 for 2024. What amount of income from the government grant is recognized for 2020? 12,000,000 b. a. 10,000,000 6,000,000 4,000,000 с. d.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 6RE
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