38 – Metal Foreign Trade Limited Company made a loss of 200.000 TL in 2020. The company has 300,000 TL accumulated in the legal reserves account until 2020, and it

38 – Metal Foreign Trade Limited Company made a loss of 200.000 TL in 2020. The company has 300,000 TL accumulated in the legal reserves account until 2020, and it has been decided to deduct the previous year’s losses with legal reserves. In this case, which of the following can be said about the accounting records to be made? A) 580 previous year losses account 300.000 is credited. B) 542 Extraordinary reserves account 200.000 is debited. C) 540 legal reserves account is debited 200,000. D) 591 net loss for the period 200.000 is credited. E) 541 Status reserves account 200.000 is debited.

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