Final answer:
The grant from Gairo District Council to Migubike Corporation must be properly recorded in accordance with the corporation's accounting policies and the nature of the grant. Additionally, the calculation of the Tanzanian government's accumulated debt over 10 years involves a geometric series with annual additions and compounding interest, which would yield the total amount of debt.
Step-by-step explanation:
The presentation of a grant in the books of Migubike Corporation will depend on the accounting policies adopted by the corporation and the nature of the grant. If the grant is related to assets and it does not require any conditions to be met, it could be recognized in the statement of financial position as deferred income and released to the income statement on a systematic basis over the useful life of the assets. However, specific details on the terms of the grant are needed to provide a precise accounting treatment.
For the Tanzanian government scenario, to calculate the accumulated debt over 10 years, you would use the formula for the sum of a geometric series. Given the initial debt of 2 million shillings, with an annual addition of 2 million shillings, and an interest rate of 12% percent, the formula would yield the accumulated debt value. The calculation would be complex and would need to incorporate the annual addition of new debt and the compounding interest. Without precise calculations, an approximate figure cannot be provided confidently.