Accountancy, asked by amankumarkarna20bc19, 2 months ago

where is loss entered on p and l appropriation account​

Answers

Answered by sidney134
1

Explanation:

It is nominal account in nature. It is credited with net profit, interest on drawings and it is debited with interest on capital, salary and other remuneration to the partners. The balance being the profit or loss is transferred to the partners' capital or current account in the profit sharing ratio.

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