Process Costing – Losses (part c) Abnormal Gains Example 4

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  1. Avatar of awain awain says:
    April 10, 2013 at 2:10 pm

    Thanks for the the lectures, Its been very nice, simple and understanding. it rekindled my motivation for my Accounting studies. its too good to be free.

  2. Avatar of acca143 acca143 says:
    January 19, 2013 at 4:16 pm

    I appreciate your help opentuition..!

  3. Avatar of tauraiversatile tauraiversatile says:
    October 22, 2012 at 7:20 pm

    Well said, Got It!

  4. Avatar of rhwesley rhwesley says:
    May 14, 2012 at 4:23 pm

    some times theses videos stop all of a sudden

  5. Avatar of allamardneket4 allamardneket4 says:
    April 1, 2012 at 9:54 am

    @wixibix where u frm?

  6. Avatar of coolzealot coolzealot says:
    December 4, 2011 at 5:04 pm

    To Martinras
    Abnormal loss/Gain is always accounted for full production cost(in this case 7.6)in the process account. the scrap is dealt with in another account called LOSS account and in that account the difference goes into the Income statement either as profit or loss depending on which side the balance is.

  7. Avatar of martinras martinras says:
    November 25, 2011 at 5:48 am

    In the last test if I proceed I get an abn. gain of 200*7,6=1.520, less cost (scrap) of 200*1,5=300$ = a total of 1.220$

    When I make the Process account, why do I then Debet the 1.520$ and not the 1.220$?

  8. Avatar of wixibix wixibix says:
    November 24, 2011 at 11:45 am

    Thank you!!!! :)

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