Question

Name any four items that are credited to Profit & Loss Account?​

Answer 1

Four items appearing on the Profit and Loss Appropriation account are:

Interest on Drawings on the credit side;

Interest on Partner's Capital on the debit side;

Partner's salary on the debit side;

Partner's commission on the debit side.

Answer 2

Answer:

Explanation:

The following items are credited to Profit and Loss account

1. Gross profit ( if any )
2. Discount received
3. Interest received
4. Profit on sale of asset
5. Rent received ( from owners property )
6. Commission received
7. Dividend received ( from shares )
8. Profit on sale of Investment