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I know I said I'll stop but ... Why have you re-recognised...

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saltpeppersquid

167 Posts.

31/08/17

09:45

Post #: 26886600
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Originally posted by Winter08 ↑

That would seem right the June expenditure gets capitalised to inventory rather than to the p&l.
So p&l has may revenue and may expenditure
And June expenditure is on balance sheet as inventory

May
Dr expenses (p&l) 13,008
Cr cash (BS) 9482
Cr accumulated depreciation (BS) $3483
Book may expenses

Dr cash (BS) 14141
Dr receivable (BS) 834
Cr Revenue (p&l) 14974
Book may revenue

June
Dr inventory (BS) 12232
Cr cash (BS) 8799
Cr accumulate Depreciation (BS) 3483
Book June expenditure
(Won't be exact as I don't know timing diff in inventory movement and using same depreciation to back into cash)

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I know I said I'll stop but ...

Why have you re-recognised accumulated depreciation by offsetting it against inventory?

Are you sure it gets recognised as accum dep in the first place?

Also, inventory doesn't get depreciated. Did you mean WIP?

GXY Price at posting: $1.76 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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