Question: Show complete solutions as to why the final answer is 23,175,000. On January 1,2021 , the national government provided a grant to Brgy. ACYFAR2 amounting

Show complete solutions as to why the final answer is 23,175,000.

On January 1,2021 , the national government provided a grant to Brgy. ACYFAR2 amounting to P24,000,000 intended to construct a new barangay hall. Provided that the said construction was finished on August 15,2021 for an amount of P32,000,000 with best estimate of its useful life at 40 years. On December 31,2022 , how much should be the ending balance of the deferred grant income

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