So this is more of a question to all rather than a comment. Apart from Uni, I've never performed accounting services for a publicly listed company. Given that the long standing trade liabilities (the fraud ones)of $10M or so have reportedly been mostly settled. EN1 has settled with equity rather than cash. So an increase to equity issued and reduction of creditors would be the simple form of the journal. That is, Cr Equity Dr Trade Creditors. But... we've heard that most of these have been settled at a fraction of the debt. 10% 50% etc. So where will the balance of the journal be? Would they put it back into income as debt forgiveness and report an extraordinary event? How did they account originally to raise the trade creditor? Was it put into COGS or carried as a form inventory? Again, this isn't a comment. I'm actually trying to get my head around it. So any help would be greatly appreciated. Peace oot.p.s. sorry for posting this in charting thread.
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So this is more of a question to all rather than a comment....
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