Accountancy, asked by aribakhawar83, 8 months ago

why is profit and loss appropriation account is prepared by partnership firm

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Answered by jagjeet1090

Answer:

IT IS AN EXTENSION OF PROFIT AND LOSS ACCOUNT. IT IS PREPARED TO PROVIDE ANY SALARY, COMMISSION, INTEREST ON CAPITAL, INTEREST ON DRAWINGS, DIVISIBLE PROFITS TO THE PARTNERS.

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why is profit and loss appropriation account is prepared by partnership firm​

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why is profit and loss appropriation account is prepared by partnership firm