USA How to record interest received on Government Grant


P

PAN

Joined
Jul 3, 2020
Messages
8
Reaction score
0
Country
United States
City received 50 million dollars for development activities (example job creation during 10 years).

Portion of the money was invested ( we received 3 million interest on profit distribution – non restricted)

Can someone please tell me how to record this 3 million.

Thank you,
 
Ad

Advertisements

Ad

Advertisements

K

Kat Maple

Joined
Apr 1, 2020
Messages
71
Reaction score
11
Country
United States
Hi Pan

For receipt of interest
DR Cash
CR Interest Income

Regards

Kat
 
You must log in or register to reply here.

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

How to record AUC entries? 0
How to Record "Payment to Vendor against Vendor in QB" 0
USA Recording the Sale of Subsidiary A to Subsidiary C in a Consolidation Environment 9
USA Question about how to record investment received by taking on a new member into business. 1
USA How to record free office supplies 4
USA One owner three entities; recording intercompany transactions 4
USA Recording Mid Period Dirty Interest on Sale of Note 1
USA Where do I record accrued interest on loans when on cash basis? 1

Top