Find how much income from government grant is recognized

Reference no: EM132817658

Problem 1: On January 1, 20x1, because of an exemplary accomplishment that brought international recognition to the community, the government waived the repayment of CONGEAL TO THICKEN Co.'s loan payable with a carrying amount of ?800,000 and remaining term of 4 years. How much income from government grant is recognized in 20x1?

a. 800,000

b. 200,000

c. 400,000

d. 0 Loans at below market-interest rate

Reference no: EM132817658

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