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What is the deferred grant income on january

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Reference no: EM132563039

On January 01, 2020, the government agreed to provide financial Accounting Company with a P3,000,000 three year, non interest bearing note. The prevailing rate of interest for a loan of this type is 10% and the present value of P3,000,000 at 10% for three years is P2,253,900.

Question 1: What is the deferred grant income on January 01, 2020?

Question 2: What is the income from government grant for 2020?

Reference no: EM132563039

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