Question

what is profit and loss distribution account ?tell me in brief​

Answer 1

Answer:

Profit and Loss Appropriation Account

In this account how the profit or loss among the partners of the firm is distributed is shown. Through this account, all adjustments in respect of partner's salary, partner's commission, interest on capital,interest on drawings, etc. are made.

Explanation:

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Answer 2

Answer:

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Profits or losses, made by a firm should be divided among its partners in accordance with the provision of their Partnership Deed. ... Net Profit is transferred from Profit and Loss Account to Profit & Loss Appropriation Account by: Debiting the Profit and Loss Account. Crediting the Profit and Loss Appropriation Account