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Grade 10 Accounting > Profit And Loss Appropriation Account > Flashcards

Profit And Loss Appropriation Account Flashcards

1
Q

What is the layout of the profit and loss appropriation account?

A

Net Profit
Add Interest on Drawings: ‘Name’
‘Name’
Less: Interest on Capital: ‘Name’
‘Name’
Salary: ‘Name’

Share of Profit: ‘Name’
‘Name’

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2
Q

What are the 3 ways to share profit?

A

Equally
Ratio
Capital Contribution

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Grade 10 Accounting (21 decks)

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