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Hi, I just have a quick question in relation to abnormal gains?
why are abnormal gains credited to the procces AC at full value as opposed to being debited?
thanking you
But abnormal gains are debited to the process account!
Have you watched my free lectures on process costing? (The lectures are a complete free course for Paper F2 and cover everything needed to be able to pass the exam well.)
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Hi, apologies I meant to ask why abnormal losses are credited instead of being debited.yes I have been going through the lectures which I am finding very good but when I was doing the practice questions for chapter 12 I came across a question (question 2/5) which indicated that the process account was credited with full production cost and I couldn’t understand why you would credit a loss.
Thanking you
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