Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...


Why do you prepare a P/L Appropriation a/c?

Answers were Sorted based on User's Feedback



Why do you prepare a P/L Appropriation a/c?..

Answer / divya s k

if it the case of a partnership firm, the above mentioned
answers are correct.
In case of a joint stock company, appropriation a/c is
prepared to appropriate meaning apportioning the net profit
& transferring a portion of the profits earned to various
reserve a/cs as per the requirement of the company as well
as the companies & various other acts.
the profit arrived after such appropriations is available
for the distribution as dividends to the shareholders of the
company. unless otherwise the profits cannot be distributed
as dividends.

Is This Answer Correct ?    13 Yes 2 No

Why do you prepare a P/L Appropriation a/c?..

Answer / jubeda

TO KNOW THE NET PROFIT OR LOSS IN THE BUSINESS. WHEN THERE
IS ADJUSTMENT STATING THAT SALARY /COMMISSION TO PARTNER,
INTEREST ON CAPITAL, INTEREST ON DRAWINGS THEN WE PREPARE
THE PROFIT & LOSS APPROPRIATION A/C AND TO GET THE ACTUAL
NET PROFIT/LOSS OF THE FIRM/CO./BUSINESS.

Is This Answer Correct ?    11 Yes 6 No

Why do you prepare a P/L Appropriation a/c?..

Answer / jubeda

TO KNOW THE NET PROFIT OR LOSS IN THE BUSINESS. WHEN THERE
IS ADJUSTMENT STATING THAT SALARY /COMMISSION TO PARTNER,
INTEREST ON CAPITAL, INTEREST ON DRAWINGS THEN WE PREPARE
THE PROFIT & LOSS APPROPRIATION A/C AND TO GET THE ACTUAL
NET PROFIT/LOSS OF THE FIRM/CO./BUSINESS.

Is This Answer Correct ?    1 Yes 5 No

Post New Answer

More Accounting General Interview Questions

last year company profit is Rs 50.000 ,the part of the profit is transfer to reserve and surplus account . but the current year company suffering loss .in that situation company can take help Rs 25000 from reserve and surplus . if yes than how can ,please reply me what is general entry

3 Answers   IBM, TCS,


Differentiate public and private accounting?

0 Answers  


IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED

1 Answers  


journal entry for goodwill and capital bought by a new partner?

0 Answers  


wt do you understand by ledger

1 Answers  


How to void a payment

0 Answers   Accenture,


what is professional tax slab rate ?

2 Answers   DNS,


Explain: Accrual Concept, Realisation Concept, Going Concern concept, Accounting period Concept

1 Answers  


Purchased 10 pcs Mouse @ 230 from TC Ltd and get another 2 pieces as free sample.

4 Answers  


what is the difference between contra entry and double entry?

7 Answers   ACC, Capital IQ,


How do caculate goodwill of a company?

2 Answers   Genpact,


What is the fictitious assets?

0 Answers  


Categories