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Business, 23.05.2021 04:50 mikeeway33

. LNT limited is an export company. It received a government grant of Nu. 2.5
million to construct a warehouse on 30 June 2018. The warehouse will have an
estimated useful life of 50 years over which it will be depreciated using a straight
line method. The construction last for 6 months in 2018 and was put into use
from 1 January 2019. The company incurred Nu. 3 million as construction cost.
Required:
Account for grant correctly using the method of deferred income. Prepare the
extracts of financial statements showing the grants in the appropriate financial
statements.​

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. LNT limited is an export company. It received a government grant of Nu. 2.5
million to const...
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