Problem 1Green Pastures received a grant of P 60 million to compensate it for costs mcurred in planting narra trees over a period of 5 years. Green Pastures will mecur such costs in this manner: .Ye Costs12 М4 М6 M48 M10 МTotal costs thus incurred will aggegate P30 M.Required: Based on the provisions of PAS 20o, Government Grants, how should Green Pastures treat the "grant" in the books? Put your answer in the box below.

Problem 1Green Pastures received a grant of P 60 million to compensate it for costs mcurred in planting narra trees over a period of 5 years. Green Pastures will mecur such costs in this manner: . Ye Costs 2 M 4 M 3 6 M 4 8 M 5 10 M Total costs thus incurred will aggegate P30 M. Required: Based on the provisions of PAS 20, Government Grants, how should Green Pastures treat the "grant" in the books? Put your answer in the box below.

Problem 1Green Pastures received a grant of P 60 million to compensate it for costs mcurred in planting narra trees over a period of 5 years. Green Pastures will mecur such costs in this manner: . Ye Costs 2 M 4 M 3 6 M 4 8 M 5 10 M Total costs thus incurred will aggegate P30 M. Required: Based on the provisions of PAS 20, Government Grants, how should Green Pastures treat the "grant" in the books? Put your answer in the box below.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Green Pastures received a grant of P60 million to compensate it for costs incurred in planting Narra trees over a period of 5 years. Green Pastures will recur such costs in this manner: Year Costs 1 2M 2 4M 3 6M 4 8M 5 10M Total costs thus incurred will aggegate P30 M. Required: Based on the provisions of PAS 20, Government Grants, how should Green Pastures treat the “grant” in the books?
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