BPP question 30.9

This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.

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July 22, 2021 at 6:30 am #629067
nnp1807
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Why do items (3) and (4) have no effect on P/L?
July 22, 2021 at 7:42 am #629083
John Moffat
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(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.
July 28, 2021 at 1:24 pm #629673
nnp1807
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Thank you!
July 29, 2021 at 8:32 am #629758
John Moffat
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You are welcome 🙂
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