Gains on disposals

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:31AM in AAT student discussion
Where do gains on disposals go on the profit and loss account?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Gains on disposals

    Profit/loss on disposals account. DR if its a loss, CR if its a gain.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Gains on disposals

    On the actual profit and loss statement, the gain should be reported after the gross profit line. If loss, then to be included under less expenses.<BR><BR>

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