Business, 23.05.2021 04:40 raymondanthony6567
XYZ Limited produces school shoes and supplies to all central schools in
Bhutan. It received a grant of Nu. 800,400 in 2018 from the UNICEF Thimphu
office. This grant will be used to meet the operating expenses of the company
for 2018-2020 when they produce school shoes to central schools. 30% of the
grant will be used in 2018. The company estimates a total operating cost of Nu.
1.8 million over 2018-2020.
Required:
i. Identify the type of grant received by XYZ limited.
ii. Explain how the grant received will be accounted in the books of XYZ
limited. Write entries as well.
rembreus
Answers: 1
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XYZ Limited produces school shoes and supplies to all central schools in
Bhutan. It received a gran...
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