Perrin presents its asset grants as deferred income. At the start of the year, deferred income is 120,000. It receives 90,000 of new grants for equipment bought during the year, and releases 30,000 to profit or loss. Calculate closing deferred income and the amount of grant receipt to be presented as a flow separate from the purchase of the equipment.
- Opening deferred income
- 120,000
- Asset grants received in cash
- 90,000
- Releases for the year
- 30,000