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profit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › profit

  • This topic has 2 replies, 2 voices, and was last updated 2 years ago by xyzc.
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    Posts
  • January 18, 2023 at 12:17 pm #676892
    xyzc
    Participant
    • Topics: 413
    • Replies: 175
    • ☆☆☆☆

    Is profit or loss on disposal of plant going to appear in the ppe t account in the statement of cash flows chapter.
    Also if a plant has been sold then the ppe t account is credited with proceeds amount or the carrying amount

    January 18, 2023 at 9:29 pm #676958
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7177
    • ☆☆☆☆☆

    No, the profit or loss does not appear in the t-account. It is just the carrying value that is adjusted.

    January 28, 2023 at 10:30 am #677518
    xyzc
    Participant
    • Topics: 413
    • Replies: 175
    • ☆☆☆☆

    so like profit or loss proceeds also don’t appear it is correct

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