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accounting working

  • 21-06-2010 8:42am
    #1
    monaghanman10
    Closed Accounts Posts: 176 ✭✭


    hey could anyone plese tell me what to do with the fire damage working


Comments

  • #2
    Killio9
    Closed Accounts Posts: 48 ✭Killio9


    this for q1?


  • #3
    monaghanman10
    Closed Accounts Posts: 176 ✭✭monaghanman10


    yeah


  • #4
    Killio9
    Closed Accounts Posts: 48 ✭Killio9


    i'm lookin at 2007.
    right, so it says during bla the store room which cost 40,000 and stock worth 12,000 were destroyed by fire.

    So for this you take out the 40,000 from buildings because it's gone. And you take 12,000 out of purchases.

    then it says new store was built by firms workers. Cost of labour was 19,000 and raw materials 51,000 were taken from stocks.

    these should be included in cost of the new store but arent.
    So the labour hasto be taken out of Salaries and general expenses (-19,000)
    And the materials are (like the 12,000 stock) are taken away from purchases aswell.(-51,000) and then you add the 51,000 and 19,000 to buildings because thats how much it cost to build!

    and then the 52,000 in compensation is just a current asset

    hope this helps :)


  • #5
    monaghanman10
    Closed Accounts Posts: 176 ✭✭monaghanman10


    thanks a million


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