Accountancy, asked by vaishnavi15patidar, 5 months ago

for distribution of profit among the partners .........is prepared

Answers

Answered by rishithavm7
10

Explanation:

A Profit and Loss Appropriation Account is prepared to show the distribution of profits among partners as per the provision of Partnership Deed (or as per the provision of Indian Partnership Act, 1932 in the absence of Partnership Deed). It is an extension of Profit and Loss Account. It is nominal account.

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