Process costing

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November 1, 2018 at 9:44 pm #483536
aliahmed1994
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In process costing, In the accounts of abnormal losses/gains, when we debit Income statement account with 725$. Does this represent a profit or loss?
November 2, 2018 at 8:33 am #483558
John Moffat
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A loss. Debits to the income statement always reduce the profit, credits to the income statement always increase profit.
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