On January 1, 2014, Valiant Company received a Government grant of P60,000,000 to compensate for the cost to be incurred in planting trees over a period of 5 years. Valiant Company will incur such cost at P2,000,000 for 2014, P4,000,000 for 2015, P6,000,000 for 2016, P8,000,000 for 2017, and P10,000,000 for 2018. What amount of income from the government grant is recognized for 2015?
On January 1, 2014, Valiant Company received a Government grant of P60,000,000 to compensate for the cost to be incurred in planting trees over a period of 5 years. Valiant Company will incur such cost at P2,000,000 for 2014, P4,000,000 for 2015, P6,000,000 for 2016, P8,000,000 for 2017, and P10,000,000 for 2018. What amount of income from the government grant is recognized for 2015?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On January 1, 2014, Valiant Company received a Government grant of P60,000,000 to compensate for the cost to be incurred in planting trees over a period of 5 years. Valiant Company will incur such cost at P2,000,000 for 2014, P4,000,000 for 2015, P6,000,000 for 2016, P8,000,000 for 2017, and P10,000,000 for 2018. What amount of income from the government grant is recognized for 2015?
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