Why do items (3) and (4) have no effect on P/L?
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BPP question 30.9
4y ago#1(3) The missing entry will be to drawings, which appear on the SOFP and do not affect the SOPL.
(4) The total cash payments appear on the SOFP. If the total is wrong then it is the SOFO that is wrong - the SOPL is not affected.
Thank you!
4y ago#3You are welcome :-)
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