Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 10 - No. 45)
Which accounts are commonly listed in the appropriation account?
Salary, drawings, and interest
Drawings, capital, and current.
Interest on capital, partners' salaries, and the allocation of profit/loss.
Capital, revenue, and profit
Explanation
The appropriation account lists partners' salaries, interest on capital, and then the share of the profit or loss.
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