How much is carrying amount of deferred income for unfledged

Reference no: EM132817653

Problem 1: On January 1, 20x1, UNFLEDGED IMMATURE Co. received land from the government with the condition that a factory building should be constructed on it. The fair value of the land was estimated at ?20,000,000. The construction of the factory building was completed on January 1, 20x2 for a total cost of ?80,000,000. The building will be depreciated using SYD over a useful life of 10 years. The estimated residual value is ?8,000,000. CHIDE Co. uses the gross presentation of government grants. How much is the carrying amount of the deferred income from the government grant on December 31, 20x2?

a. 20,000,000

b. 16,363,636

c. 13,090,908

d. 0

Reference no: EM132817653

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