what do you mean by profit and loss appropriation account ?
what is the use of preparing it?
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Answer / ashwin pawar
Part of the income statement (profit and loss account) that
explains how a firm's profit has been used to pay
dividends, and/or to increase reserves indicated in the
balance sheet. It states what happens to profit, instead of
how it was earned, and is usually shown separate from the
main statement.
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1. our co., start from 20.05.10 but at the time to till our capital invested m.d spend Rs:98000 as food,refreshment,rent guesthouse,travelling exp e.t.c., now we want to return to him (i.e) all the expenses (amount will pay may be 17.08.10, how to account it in tally for the expenses of M/D . and payment entry. I need the help
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