Question

Give specimen for profit and loss appropriation account

Answer 1

Answer:

particulars. amount particulars amount

interest on capital xx. profit b/d xxx

partners salary xxxx. interest on drawings xx

partner commission xx

Reserver fund xxx

profit transfer to xxx

A xxx

B xxx

-------------. ----------

Answer 2

Answer:

Explanation:

The main intention of preparing aprofit and loss appropriation account is to show the distribution of profits among the partners. It is debited with interest on capital and remuneration to partners and credited with the net profits b/d from the profit and loss account and interest on drawings