Abnormal loss

This topic has 3 replies, 2 voices, and was last updated 2 years ago by John Moffat.

Viewing 4 posts - 1 through 4 (of 4 total)

Author
Posts
June 8, 2023 at 10:23 pm #686596
kadamova.f@gmail.com
Participant
- Topics: 3
- Replies: 2
Where is the abnormal loss balance posted at the end of the period? Cr Process account or Dr Statement of profit or loss?
June 9, 2023 at 7:48 am #686625
John Moffat
Keymaster
- Topics: 57
- Replies: 54838
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 🙂
June 9, 2023 at 9:08 am #686630
kadamova.f@gmail.com
Participant
- Topics: 3
- Replies: 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?
June 10, 2023 at 10:09 am #686734
John Moffat
Keymaster
- Topics: 57
- Replies: 54838
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).
Author
Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.