. LNT limited is an export company. It received a government grant of Nu. 2.5
million to construct a warehouse on 30 June 2018. The warehouse will have an
estimated useful life of 50 years over which it will be depreciated using a straight
line method. The construction last for 6 months in 2018 and was put into use
from 1 January 2019. The company incurred Nu. 3 million as construction cost.
Required:
Account for grant correctly using the method of deferred income. Prepare the
extracts of financial statements showing the grants in the appropriate financial
statements.​

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.