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How much Besao Company should include in income statement

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Question - On January 1, 2005, Besao Company received a grant of P10 million from the Australian government for the construction of a laboratory and research facility with an estimated cost of P15 million and useful life of 5 years. The laboratory and research facility was completed and ready for its intended use on January 1, 2006.

How much Besao Company should include in its 2006 income statement an income from the government grant?

Reference no: EM132675608

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