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Abnormal loss

FFarangiz3y ago
Where is the abnormal loss balance posted at the end of the period? Cr Process account or Dr Statement of profit or loss?
John MoffatJohn MoffatTutor3y ago#1
If you are referring to the balance left on the loss account, then it is posted to the SOPL. This is all explained in my free lectures :-)
FFarangiz3y ago#2
Thank you, your lectures are very helpful. But if in the exam the type of account is not specified, will it be correct to answer that it posted on SOPL?
John MoffatJohn MoffatTutor3y ago#3
Probably yes, although it depends on the exact wording of the question. (And of course you cannot be asked to actually write up accounts in the exam).
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