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What amount must kook corporation include income statement

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Question 1: On May 10, 2019, Kook Corporation received a grant of $8,000,000 from the Australian Government for the construction of a educational institution with an estimated cost of $10,000,000 and a useful life of 5 years. The facility was completed in early 2020. What amount must Kook Corporation include in its 2020 income statement as income from the government?

Reference no: EM132858849

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