Ask Experts Questions for FREE Help !
    sbogdanov's Avatar
    sbogdanov Posts: 1, Reputation: 1
    New Member

    Feb 16, 2016, 10:31 PM
    How do I book a 3 year grant
    I have a 3 year grant. I originally book over the 3 years but my accountant said it would all have to be recognized in the year it was received. Is this correct.
    paraclete's Avatar
    paraclete Posts: 2,704, Reputation: 171
    Ultra Member

    Feb 21, 2016, 02:42 PM
    Yes that appears to be correct on the limited information you have provided, so you need to make any major expenditures needed in the first year

Not your question? Ask your question View similar questions


Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.

Check out some similar questions!

How to book last year's transaction performed in the current year? [ 1 Answers ]

I have a small business. I contributed $1000 towards SEP IRA for year 2014. However, the transaction was done in January of 2015 using the retained earnings of 2014. Obviously, this money is tax deductible for my business. What is the correct way of posting this transaction so that it shows...

Value of a 1975 Britannica set with year book [ 1 Answers ]

My dad has a set of 1975 Britannica with the year book and also a set of Britannica Junior with the year books from 75,76 and 77. I was wondering if there was a market for these and what they are worth.

Computing first-year depreciation and book value [ 1 Answers ]

At the beginning of the year, Logan Services purchased a used airplane for $65,000,000. Logan Services expects the plane to remain useful for 4 years (6 million miles) and to have a residual value of $5,000,000. The company expects the plane to be flown 1.3 million miles the first year. 1....

Grant received not to be shown as grant [ 4 Answers ]

We have received a grant but we don't want to show that as grant in our financial statements, what are the other options available?

View more questions Search