Government grant of 1,00,000 received for the construction of a cycle stand in the college utilized fully.

Question:

Government grant of ₹1,00,000 received for the construction of a cycle stand in the college utilized fully.

Cycle stand is to be depreciated over five years. How much is to be added to the book value of building when deferred revenue method of recognizing government grant is being followed?

(a) ₹1,00,000

(b) ₹20,000 in each of the year

(c) Nothing is to be deducted

(d) None of these

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

See More Books

Question Posted: Dec 15, 2023 11:39 PM

See More Questions

Government grant of 1,00,000 received for the construction of cycle stand in the college utilized fully. Cycle stand is to be depreciated over five years. How much is to be added to the book value of...
The following is an extract of Errsea's balances of property, plant and equipment and related government grants at 1 April 2006. Details including purchases and disposals of plant and related...
The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2018: Instructions 1. Prepare a multiple-step income statement. 2....
A wire having a mass per unit length of 0.500 g/cm carries a 2.00-A current horizontally to the south. What are the direction and magnitude of the minimum magnetic field needed to lift this wire...
(a) What are the estimates of 0 and 1 ? (b) Compute the standard error, the point estimate for . (c) Determine s b 1 . (d) Assuming the residuals are normally distributed, test H 0 : 1 = 0 versus...
A $1-\mathrm{kg}$ block is used to compress a spring with spring constant $k=10.0 \mathrm{~N} / \mathrm{m}$ by $5 \mathrm{~cm}$, and then released. Draw energy diagrams for the spring-mass...
LaPorta Company and Lott Corporation, two corporations of roughly the same size, are both involved in the manufacture of in-line skates. Each company depreciates its plant assets using the...
What two different types of firmware may be used on motherboards? a. POST b. UEFI c. CMOS d. BIOS
Securities premium is shown under which heading in the balance sheet? (a) Share capital (b) Current liabilities (c) Provisions (d) Reserve and surplus
Revenue recognition in case of construction contracts is governed by (a) Cash basis of revenue recognition (b) Accrual basis of revenue recognition (c) Percentage of completion of work (d) None of...
ERS, Inc., maintains and repairs office equipment. ERS had an average of 10,000 shares of common stock outstanding for the year. The following income statement account balances are available for ERS...
Our client, Mrs. Euphemia Welsher, has come to the firm with a problem. She is a resident of New York City, but spends two months of every year in Canada, as she owns a cottage outside Kingston....
On December 31, 2024, the end of the fiscal year, California Microtech Corporation held its semiconductor business for sale at year- end. The estimated fair value of the segment's assets, less costs...
Your mother wants to save $ 2 , 0 0 0 , 0 0 0 for retirement. She plans to invest annually in an account that pays 6 . 0 0 % over the next 2 0 years, and he wants 2 5 end - of - year withdrawals...
The financial statements of Parco and Subco for the year ended December 31, 2020 are provided as follows: Cash Accounts receivable Note receivable Inventory Property, plant and equipment Accumulated...
The company spends $8,000 per quarter in wages for each Level 1 employee. Productivity is currently 209 units per worker, requiring 498 Level 1 employees to meet the production goal of 104,000 units....
Walker & Campsey wants to invest in a new computer system, and management has narrowed the choice to Systems A and B. System A requires an up-front cost of $100,000, after which it generates positive...
Marc Company assembles products from a group of interconnecting parts. The company produces some of the parts and buys some from outside vendors. The vendor for Part X has just increased its price by...
For each of the following payroll-related taxes, indicate whether they generally apply to (a) Employees only, (b) Employers only, or (c) Both employees and employers: 1. Federal income tax 2....
For each of the following payroll-related taxes, indicate whether they generally apply to (a) Employees only, (b) Employers only, or (c) Both employees and employers: 1. Federal income tax 2....
For each of the following payroll-related taxes, indicate whether they generally apply to (a) Employees only, (b) Employers only, or (c) Both employees and employers: 1. Federal income tax 2....
X11 supplied Imber or components produced in Plant 1 Store A X12 = number of components produced in Plant 1 and supplied to Store B X13 = number of components produced in Plant 1 and supplied to...
What is the leading p / e ? what is the trailing p / e ? Following is the information for a company: Stock price: $ 4 4 EPS: $ 2 Dividend paid last year = $ 0 . 8 Growth in dividends = 5 % Required...
For the situation in the figure below, use momentum conservation to determine (a) the magnitude and (b) the direction of the final velocity of ball 1 after the collision. The angle = 41.0. 01 = 0.900...

Government grant of 1,00,000 received for the construction of a cycle stand in the college utilized fully.

Question:

Step by Step Answer:

Financial Accounting

Students also viewed these Business questions