On January 1, 20x4, Pasado Co. received a grant of P9,000,000 from the foreign government in...
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On January 1, 20x4, Pasado Co. received a grant of P9,000,000 from the foreign government in order to defray safety and environmental costs within the area where the entity is located. The safety and environmental costs are expected to be incurred over three years, respectively, P1,000,000, P2,000,000, P3,000,000. What income from the government grant should be recognized in 20x4? * On January 1, 20x4, Pasado Co. received a grant of P9,000,000 from the foreign government in order to defray safety and environmental costs within the area where the entity is located. The safety and environmental costs are expected to be incurred over three years, respectively, P1,000,000, P2,000,000, P3,000,000. What income from the government grant should be recognized in 20x4? *
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To determine the income from the government grant that should be recognized in 20x4 we need to consi... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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