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Question 9.E.3: To give yourself some extra practice, draw up the abnormal g...

To give yourself some extra practice, draw up the abnormal gain account and the scrap account

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Abnormal gain account
£ £
Scrap stock (20× £ 0.20) 4 Process 3 221
Income statement 217 \underline{\hspace{10 pt}}
221 221
 Scrap account
£ £
Normal loss 4 Bank/receivable: (90 − 20) ×£ 0.20 14
\underline{\hspace{10 pt}} Abnormal gain 4
18 18

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