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
The double entry principle states that ...
Use the following information to answer the question \(\begin{array}{c|c} & Ade & Bola\\ &a...
The authorized capital of city entertainment company is made up of 200,000 212% prefere...
\(\begin{array}{c|c} & \text{1/6/2011} & \text{30/5/2012}\\ & D & D \\ \hline \text{...
Given: Shaku Company Ltd. Stock..........................N3,600,000 Cash at hand..................