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Determine and show the statement of profit or loss

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Question 1: An entity opens a new factory and receives a government grant of $15,000 in respect of capital equipment costing $100,000. It depreciates all plant and machinery at 20% pa straight line.

Question 2: Show the statement of profit or loss and statement of financial position extracts in respect of the grant in the first year under both methods.

Reference no: EM132481442

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