Name any two items which are shown on the credit of Profit and Loss Appropriation Account. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Profit for the year. (ii) Interest on Drawings. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostName any two items which are shown on the debit of Profit and Loss Appropriation Account. Next PostWhy salary and commission paid to partners are recorded in Profit & Loss Appropriation Account instead of Profit & Loss Account? You Might Also Like X, Y and Z are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Z retires from the firm on 31st March, 2019. On the date of Z’s retirement, the following balances appeared in the books of the firm: General Reserve Rs. 1,80,000 Profit and Loss Account (Dr.) Rs. 30,000 Workmen Compensation Reserve Rs. 24,000 which was no more required Employees’ Provident Fund Rs. 20,000. Pass necessary Journal entries for the adjustment of these items on Z’s retirement. August 3, 2022 What are Operating Expenses? October 3, 2022 How will you deal increase in the balance of ‘Securities Premium’ while preparing a Cash Flow Statement? October 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X, Y and Z are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Z retires from the firm on 31st March, 2019. On the date of Z’s retirement, the following balances appeared in the books of the firm: General Reserve Rs. 1,80,000 Profit and Loss Account (Dr.) Rs. 30,000 Workmen Compensation Reserve Rs. 24,000 which was no more required Employees’ Provident Fund Rs. 20,000. Pass necessary Journal entries for the adjustment of these items on Z’s retirement. August 3, 2022
How will you deal increase in the balance of ‘Securities Premium’ while preparing a Cash Flow Statement? October 4, 2022