Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

Journal entryAdvancedVariant — group VG.IAS37.000004Published

Question · Contingent assets

Escaline was claiming compensation from an installer for a defect that had stopped a production line; the outcome was uncertain. On 10 December 20X5, the parties sign an irrevocable settlement: the installer, whose solvency is not in doubt, will pay 76,500 on 15 January 20X6. Record the entry at 31 December 20X5.

Settlement amount
76,500
Your answer
  1. Line 1

    Account Receivable from the installer

  2. Line 2

    Account Other income

← Back to the concept