what is profit &loss appropriate account
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Profit means amount of earnings
Loss appropriate account
they help account for the expenditures and income that are included in profit and loss while business or paternership
Loss appropriate account
they help account for the expenditures and income that are included in profit and loss while business or paternership
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Profit and loss appropriation accout shows 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.
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