Which one of the following items is not transferred in the Profit and Loss Appropriation Account?
Which one of the following items is not transferred in the Profit and Loss Appropriation Account?
a) Interest on Partner’s Capital
b) Interest on Drawings
c) Rent paid to partners
d) Partner’s Salary
Anurag Pathak Changed status to publish April 9, 2023
Ans – c)
Explanation:-
Rent paid to partners is a charge against profit. Thus it is transferred to Profit and Loss Account.
Anurag Pathak Changed status to publish April 5, 2023
