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What would be the balance on the deferred income non-current

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Reference no: EM132969615

Elphick plc received a government grant of £80,000 towards the purchase of an item of plant on 1 April 20X7. Elphick plc depreciates the plant to which the grant was intended over its useful economic life of ten years, and uses the deferred income method in relation to capital grants.

Problem 1: What would be the balance on the deferred income non-current liability account in respect of the grant as at 31 March 20X9?

A. £56,000
B. £64,000
C. £68,000
D. £60,000

Reference no: EM132969615

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