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What amount of grant income should be recognized

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Question - At the beginning of 2018, JD Company received a grant of P6,000,000 from the Indian government to compensate for massive losses incurred because of a recent tsunami. The grant was made for the purpose of giving immediate financial support to the company. It will take the company two years to reconstruct the structures destroyed by the tsunami. What amount of grant income should be recognized in 2018?

A. 6,000,000 B. 3,000,000

C. 1,500,000 D. 0

Reference no: EM133085285

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