Which of the following is shown in the profit and loss ap...
Which of the following is shown in the profit and loss appropriation account of a company?
Interest charges
Depreciation
Directors employments
Dividends
Correct answer is D
In general accounting, appropriation accounts are mainly prepared by partnerships and limited liability companies (LLCs). They are an extension of theprofit and loss statement, showing how the profits of a firm are allocated to shareholders or to increase reserves indicated in the balance sheet. it usually contains dividends, retained earnings, goodwill etc
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\(\begin{array}{c|c} & D\\ \hline \text{Construction of classrooms} & 500,000\\ \text{Sinkin...
The purchase of a typewriter for office use for N2,500 should be debited to ...