What is the deferred income liability balance at june

Reference no: EM132725559

Problem 1: What is the deferred income liability balance at 30 June 20X3?

A manufacturing entity receives a grant of $1m towards the purchase of a machine on 1 January 20X3. The grant will be repayable if the entity sells the asset within 4 years, which it does not intend to do. The asset has a useful life of 5 years.

Reference no: EM132725559

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