On January 2, 2020. Kimchi Company received a grant of 60,000,000 to compensate it for cost it incurred in planting trees over a period of five years. Kimichi Company will incur such cost in this manner. 2020 - 2,000,000 2021 - 4,000,000 2022 - 6,000,000 2023 - 8,000,000 2024 -10,000,000 what amount of income should Kimchi company recognize at the end of year 2023?
On January 2, 2020. Kimchi Company received a grant of 60,000,000 to compensate it for cost it incurred in planting trees over a period of five years. Kimichi Company will incur such cost in this manner. 2020 - 2,000,000 2021 - 4,000,000 2022 - 6,000,000 2023 - 8,000,000 2024 -10,000,000 what amount of income should Kimchi company recognize at the end of year 2023?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 2, 2020. Kimchi Company received a grant of 60,000,000 to compensate it for cost it incurred in planting trees over a period of five years. Kimichi Company will incur such cost in this manner.
2020 - 2,000,000
2021 - 4,000,000
2022 - 6,000,000
2023 - 8,000,000
2024 -10,000,000
what amount of income should Kimchi company recognize at the end of year 2023?
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