Which of the following will not be shown in the debit of the Profit and Loss Appropriation Account?
Which of the following will not be shown in the debit of the Profit and Loss Appropriation Account?
a) Interest on capital
b) Commission to a partner
c) Interest on drawings
d) Salary to partners
Anurag Pathak Changed status to publish April 9, 2023
Ans – c)
Interest on Drawings as revenue (income) to the firm is recorded at the credit side of the Profit and Loss Appropriation Account.
Anurag Pathak Changed status to publish April 4, 2023
