Use the following On January 1, 2022, the government gave Alahnof SR2,000,000 subsidy to purchase manufacturing...
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Use the following On January 1, 2022, the government gave Alahnof SR2,000,000 subsidy to purchase manufacturing equipment. The equipment has a cost of SR3,000,000, a useful life of five years, using the straight-line basis. 17. If Alahnof chooses to account for the grant as deferred revenue, what is the grant revenue recognized in 2022? Use the following On January 1, 2022, the government gave Alahnof SR2,000,000 subsidy to purchase manufacturing equipment. The equipment has a cost of SR3,000,000, a useful life of five years, using the straight-line basis. 17. If Alahnof chooses to account for the grant as deferred revenue, what is the grant revenue recognized in 2022?
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Step 11 Purchase Price of Equipment SR 3000000 Subsidy received from government SR 2000000 Cost o... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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