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TREATMENT OF ABNORMAL GAIN

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › TREATMENT OF ABNORMAL GAIN

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
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    Posts
  • September 12, 2023 at 5:56 pm #691956
    samiaasif942
    Participant
    • Topics: 31
    • Replies: 4
    • ☆

    What is the correct treatment for an abnormal gain at the end of the year in process costing

    Carried forward as a credit balance in the abnormal gain account

    Written off as a credit to the statement of profit or loss

    Written off as a debit to the statement of profit or loss

    Carried forward as a debit balance in the abnormal gain account

    Please help me with solving this question in the books its number 2 correct but my sir says its no. 3 correct please help me

    September 13, 2023 at 7:39 am #691978
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54767
    • ☆☆☆☆☆

    Number 2 is correct (and is explained in my free lectures).

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