The account where the profit are distributed to the partn...
The account where the profit are distributed to the partner in their profit sharing ratio in partnership
Trading account
Appropriation account
Balance sheet
Profit and loss account
Correct answer is B
Appropriation account is the account into which the net profit found in the profit and loss account of the partner will be carried down to and will be shared according to their sharing ratio
Items shown in the balance sheet as asset includes ...
Subsidiary books of account are used to record transactions ...
A partner's drawing is debited to ...
The diagrammatic representation of the workings of the computer program is ...
On January 1,2000, a club's assets and liabilities were as follows: Club house....................
Given: Cash book balance- #5000 Dishonored cheque- #1000 Direct credit - #800 Direct debit - #50...