Which of the following items is not dealt through the Profit and Loss Appropriation Account?
Which of the following items is not dealt through the Profit and Loss Appropriation Account?
a) Interest on Partner’s Loan
b) Partner’s Salary
c) Interest on Partner’s Capital
d) Partner’s Commission
Anurag Pathak Changed status to publish April 9, 2023
Ans – a)
Explanation:-
interest on Partner’s Loan is considered as a charge against profit. Thus it is recorded to the debit side of the Profit and Loss Account.
Anurag Pathak Changed status to publish April 4, 2023
