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- This topic has 4 replies, 2 voices, and was last updated 5 years ago by iyamu.
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- January 3, 2019 at 12:21 pm #499805
The initial recognition of $2 million dr bank $2m and cr deferred income $2m is it for the whole whole accounting year end or we do have to split it at the end of the year?
The of split of the $1.8 m is it for the subsequent period or ?
Because i feel that deferred income liability account balance for the end of the year should be (2000000 – 200 ) = $1.8 million while the release of the $200 will represent the CL reducing the $2 million deferred income grant.
Dr deferred income $200 SPF
Cr grant income $200 SPL.Subsequent treatment that is for the next period we can then split that deferred income like you rightly did $1.6 NCL and $200 CL.
January 4, 2019 at 9:51 pm #500022Are you referring to a specific example?
January 14, 2019 at 11:10 am #501680Yes off course … the example you gave on your video
January 14, 2019 at 10:21 pm #501916And how am I meant to know that without you specifically stating which example it is?
The deferred income balance needs to be split at the reporting date into current and non-current.
Thanks
February 15, 2019 at 7:57 am #505169thank you sir
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