Hello, Guest   |   Login here

10th TT: Recognised Current Asset Acquisition (Prom. Materials) (O14)

At this stage in the process we are ready to launch the promotional and marketing activities of BIS Ltd. The company is purchasing promotional materials at a cost of 30,000. The promotional materials, such as brochures, flyers, are needed to let potential customers know about the excellent quality of our software products. Our supplier, after delivering the goods, has submitted an invoice for the 30,000, which we need to recognise (accept) and record.

Its effect in the balance sheet is shown in the Exhibit below. 

Subscribe today and learn the fundamentals

Hello,
It seems you don't have access to the exclusive content of The Course.

In order to gain access to the content of The Course you will have to register with EntreprenAble. Membership with EntreprenAble will also give you access to our interactive Business Game and Accounting Simulations.

Subscribe today and get:

  • Unlimited website access to The Course
  • Optimized view for Desktop, Tablet and Mobile devices
  • Free 7-day, no obligation trial - normally £15
Start free trial
Test-drive the system for free
Page 1 of 2 1 2