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Receivables

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Receivables

  • This topic has 2 replies, 2 voices, and was last updated 9 years ago by P2-D2.
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  • April 11, 2016 at 3:26 pm #309752
    anu1234
    Member
    • Topics: 78
    • Replies: 65
    • ☆☆

    ISO-8859-1

    April 11, 2016 at 3:27 pm #309753
    anu1234
    Member
    • Topics: 78
    • Replies: 65
    • ☆☆

    If a customer who owed me $825000 went into liquidation , and insolvency practitioner indicates that “every unsecured creditors will get approximately 12c in every $1” means what ? Will I show full 825000 in FS or should I find fair value , if so why ? How to find the FV ?

    April 12, 2016 at 10:29 am #309848
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7187
    • ☆☆☆☆☆

    Hi,

    It means that you will receive 12% of the $825,000. I’d therefore write off the remaining 88% through profit or loss.

    Thanks

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