Do all forms of business organisations prepare a Profit and Loss Appropriation Account? Post category:Accountancy Reading time:1 mins read SOLUTION No, there is no need to prepare Profit & Loss Appropriation A/c in case of sole proprietorship concerns. It is prepared in case of partnership firms. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostGive one point of difference between Profit and Loss Account and Profit and Loss Appropriation Account. Next PostWhy is Profit and Loss Appropriation Account prepared by a Partnership Firm? You Might Also Like Current Assets are Rs. 7,50,000 and Working Capital is Rs. 2,50,000. Calculate Current Ratio. August 10, 2022 What is meant by ‘mutual agency’ in case of partnership? (C.B.S.E. 2019. Chennai) September 23, 2022 X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner and fixed the new profit-sharing ratio as 3 : 2 : 1. At the time of admission of Z, Debtors and Provision for Doubtful Debts appeared at Rs. 50,000 and Rs. 5,000 respectively all debtors are good. Pass the necessary Journal entries. August 1, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Current Assets are Rs. 7,50,000 and Working Capital is Rs. 2,50,000. Calculate Current Ratio. August 10, 2022
X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner and fixed the new profit-sharing ratio as 3 : 2 : 1. At the time of admission of Z, Debtors and Provision for Doubtful Debts appeared at Rs. 50,000 and Rs. 5,000 respectively all debtors are good. Pass the necessary Journal entries. August 1, 2022