Can i know which amount would be shown as current liabilty:
Statement of financial position (extracts) as at:
30 September 2012
$million
Current assets:
Amounts due from customers
Contract costs to date 145
Profit recognised (cumulative 20 + 12) 32
––––
177
Progress billings (cumulative) (160)
––––
Amounts due from customers 17
––––
Contract receivables (160 – 150) 10
is it the $10mn or the $17mn?
Ask the Tutor ACCA FR
Dec 2012 LOBDEN
10y ago#1I presume that there is a "$nil" option!
Both $17 and $10 are current assets
ohh.yeah im sorry i meant current asset.
thanks :)
10y ago#3So, have I answered it?
Sign in to reply to this topic.