Bouvier acquired an asset costing 750,000 and deducted a grant of 150,000 from its carrying amount. Useful life: 5 years, straight-line depreciation with no residual value (case conventions). After 2 years, the grant becomes repayable in full, which is treated as a change in estimate. Record the entry.
- Cost of the asset
- 750,000
- Grant deducted, now repayable
- 150,000
- Useful life
- 5
- Years elapsed before repayment
- 2