Govt Grants

This topic has 3 replies, 2 voices, and was last updated 11 years ago by MikeLittle.

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April 25, 2015 at 2:45 pm #242661
mansoor
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Revenue grants: these can be presented as a credit in the sopl.

what wd be the double entry for this?

i am assuming that when u get the grant, you will

Dr Bank
Cr Deferred Income

but then how is the credit made to the sopl?

thanks
April 25, 2015 at 5:50 pm #242675
MikeLittle
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Could it be something like:

Dr Deferred Income

Cr Profit or Loss

???
April 25, 2015 at 8:06 pm #242710
mansoor
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oh… thanks
April 25, 2015 at 8:17 pm #242713
MikeLittle
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You’re welcome
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