Wellcom_FY11-Financial-Report

C transactions with other related parties the

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Unformatted text preview: related parties: 2011 $ 2010 $ 2,085,170 2,492,621 449,903 543,500 Dividend revenue Jointly controlled entities 1,000,000 1,500,000 Third party superannuation contributions Contributions to superannuation funds on behalf of employees 1,764,431 1,960,354 Sales of goods and services Sale of pre-media and print services Purchases of goods and services Purchase of pre-media and print services Sales and purchases of goods and services and dividend revenue received relates to transactions with iPrint Corporate Pty Ltd. iPrint Corporate Pty Ltd was acquired by the Group on 30 June 2011 (refer to note 30) and became a subsidiary of the Group on that date. Prior to acquisition iPrint Corporate Pty Ltd was a jointly controlled entity of the Group. d) Outstanding balances arising from sales/purchases of goods and services to other related parties The following balances are outstanding at the reporting date in relation to transactions with related parties: Current receivables Jointly controlled entities - 476,390 Current payables Jointly controlled entities - 27,045 No provision for doubtful debts has been raised in relation to any outstanding balances, and no expense has been recognised in respect of bad or doubtful debts due from related parties. e) Terms and conditions. Transactions relating to dividends were on the same terms and conditions that appli...
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This document was uploaded on 02/06/2014.

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