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Deferred Income

Home › Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Deferred Income

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  • July 27, 2018 at 2:38 am

    Renee
    Participant

    Can anyone help me with this question?

    A manufacturing entity receives a grant of $3 million when it creates
    50 jobs. $1.5m is payable when the figure is reached with the
    remaining $1.5m payable at the end of 4 years should the 50 jobs
    still be in existence. At the end of year one, 50 jobs have been
    created and there is reasonable assurance that the employment
    levels will be maintained when reached.

    What is the deferred income balance at the end of the second
    year?

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