1st January, 20Y1, Heshe received a 20% grant towards the cost of a new machine of RM20 million. The machine economic life is estimated to be 5 years and no residual value
Required:
Prepare statement of financial position extracts for the Year ended 31st December, 20Y1 and 20Y2 using :
(a)Income approach
(b)Capital approach

Answer rating: 100% (QA)

a Under income approach grant is credited to income statement over o... View the full answer