Profit & Loss Appropriation Account in Partnership Accounts

Like a limited company, the profit & loss appropriation of a partnership is prepared immediately after the Profit & Loss Account.

[ Refer to Question To Accounting Test No P 1on preparation of partnership’s profit & loss appropriation account]

Format Of Profit & Loss Appropriation of a partnership: $ $ Salaries: A: x B: x X Net Profit b/f X Interest on capital: A: x B: x X Interest on drawings: A: x B: x X Balance in sharing ratio: A: x B: x X X X