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What entries would be accounted for in income statement

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Question - A PLC received a grant for £250,000 which was invested into an asset costing £1,000,000. The asset will last 3 years and has a residual value of nil. If the grant were to be show separately as deferred income, what entries would be accounted for in Income Statement in year 1?

a. Depreciation of £250,000 and other income of £83,333

b. Depreciation of £333,333

c. Depreciation of £333,333 and other income of £83,333

d. Depreciation of £250,000

Reference no: EM133089871

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