M/s ABC & co . Is advised to dibit salary and commission , who of partners to the partners to the profit and loss Apptopriation Account , why do you think that it shuld not be debited to the profit and Loss Account ?
Salary and commission to partners is an appropriation of profit and not a chrge it is because of this reason that the profit and loss appropriation account should be debited
i. This statement is True.
The loan is taken from a person or bank and they are persons either natural or person or artificial persons.
ii. This statement is True.
All properties/assets come under real...
This statement is True.
The credit side of profit and loss A/c represents incomes when the credit side is greater than the debit side (expenses) it shows the Net Profit of...