The salary of a partner is usually debited to the?
...The salary of a partner is usually debited to the?
Sundry debtors account
Appropriation account
Profit and loss account
Sundry current account
Correct answer is B
A partnership appropriation account is an intermediary account between the profit and loss account of the partnership and the individual capital accounts of each partner. The adjustments include such items as partner salaries and interest on partner capital, loans and drawings accounts
Profit distributed to ordinary shareholders of a limited liability company is ...
What is the net profit made by department S? ...
Which of the following affects the accuracy and authenticity of trial balance? ...
The main objective of bookkeeping is to record economic? ...
Sale of goods for N600 to Ade was not posted, This is an error of ...
LOAN IS 30% OF CREDITORS. What is the capital balance? ...
Which of the following is not a balance sheet item? ...
A book that contains the account for the financial transactions of an organizations is the ...
Which of the following transaction is BEST recorded in the general journal? ...