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Journal entryAdvancedVariant — group VG.IAS37.000012Published

Question · Remeasurement, unwinding and use

Cazerelle had set up a provision of 240,000 to clean up a former storage area. The works, completed and accepted without reservation in November, cost 212,000, paid to the contractor. The authority has issued its final clearance. Record the use and the treatment of the balance.

Clean-up provision
240,000
Cost of works paid
212,000
Your answer
  1. Line 1

    Account Clean-up provision (use)

  2. Line 2

    Account Cash

  1. Line 1

    Account Clean-up provision (reversal)

  2. Line 2

    Account Provision expense (reversal)

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