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34 Comments
where do u put the unfair dismissal?if u do publish?
CiaraPhelan — 20/06/16
Admin and financed by under provision for liablilities and charges I think
michael.ryan.712714 — 20/06/16
Admin expenses and provision for liabilities and charges in balance sheet I think
I put it in P+L and under current Liabilities
lcer — 20/06/16
Balance for Q1 ? 1494638?
caasiisaacbrick — 20/06/16
I got that alright Icer
Susan44 — 20/06/16
I hate to be the bearer of bad news but under IAS37 a company can NOT recognise a contingent liability in the accounts, where it is probable it is merely disclosed by way of a note to the accounts.
ciats — 20/06/16
A contingent liability that is both probable and the amount can be estimated is recorded as 1) an expense or loss on the income statement, and 2) a liability on the balance sheet.
Alex_8363 — 20/06/16
don't put it anywhere
Lc8/6/16 — 20/06/16
susan44 are you sure about that? i got it balancing but left out the contingent liability and just made a note on it nut thining back on it i feel i should have put it in
jen1293 — 20/06/16
You are supposed to put in Contingent liability if its probable under provisions for liabilities and chargers and admin. Susan44 is wrong
Lc8/6/16 — 20/06/16
ya think youre right jen1293
CiaraPhelan — 20/06/16
Anyone get something like 1272000
lcer — 20/06/16
Suspense balance anyone?
michael.ryan.712714 — 20/06/16
yep 1272000 for published
jen1293 — 20/06/16
I balanced mine at 1,200,000 im pretty sure lol
jen1293 — 20/06/16
Oh wait no I didn't never mind lol
maria.pachowicz — 20/06/16
a contingent liability that is likely is treated as a loss in the P&L and a current liability in a balance sheet, and a note is needed for it too; if the liability is unlikely then it's not provided for in the accounts, but a note is made anyway i think i got 1,212,000 or so as my balance in published but I'm not certain
Sarah654 — 20/06/16
Contingent liability went under admin expenses and other creditors in balance sheet as it was likely
maria.pachowicz — 20/06/16
yep sarah654 that's what I did with it!
jen1293 — 20/06/16
whered you guys put patent royalties?
jen1293 — 20/06/16
Sorry i mean royalty payments in Q1.
Lc8/6/16 — 20/06/16
there was none in the published was there??
michael.ryan.712714 — 21/06/16
Royalty payments go as an indirect expense in manufacturing account. I wonder how many people confused them with parent royalties!
michael.ryan.712714 — 21/06/16
*patent
Sarah654 — 21/06/16
I put them in in admin had not got a clue because they were never in any other paper
jen1293 — 21/06/16
How is anyone supposed to know where they go? I put them in admin too..
Reidin — 22/06/16
777070 for suspense anyone??
maria.pachowicz — 22/06/16
Reidin I think I got something like that as one of my balances (my balance sheet didn't work out, I had like 300 of a difference)
Reidin — 22/06/16
Thanks Maria! Did you do the incomplete or the control? If so what answer did you get??
caasiisaacbrick — 22/06/16
Anyone any answers for Q9? The cash budget?
kieran.gormley.50 — 22/06/16
412450 for profit on the cast budget, 776280 for suspense here.
maria.pachowicz — 22/06/16
Control, I can't remember my answer but I know for certain I did at least one part of it wrong so my answer was off anyway :/
Blake_1302 — 22/06/16
Does anyone remember what they got for the net profit figure in Incomplete Records?
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