Question

features of profit and loss appropriation account in point wise​

Answer 1

It is a special account that a firm prepares to show the distribution of profits/losses among the partners or partner's capital.

...

• Debit Items

• Net Loss transferred from P&L account,

• Transfer of profit to Reserves,

• Salary to Partners,

• Interest on Capital,

• Commission to Partners,

• Payments designated for dividend payments.

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Answer 2

Answer:

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Explanation:

Net Loss transferred from P&L account,

Transfer of profit to Reserves,

Salary to Partners,

Interest on Capital,

Commission to Partners,

Payments designated for dividend payments.