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Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › why if we put the loss into balace sheet it will look like the asset?
can anybody tell me what are the principles and what are the journals?
well what i knw abt loss is that loss is an expense and expense is debited as u knw, when the debit goes to b’sheet then treated as asset ……asset’s are always dr.
What’s your question Elen75?
From your very basic book-keeping days, you should remember that a Debit balance can only be one of two things – an asset or an expense.
Assets go to the SofFP ( Balance Sheet ) whereas expenses go to the SofI ( Income Statement 0