What is the difference?


18 December 2009 Please let me know the difference between P & L adjustment account and P & L appropriation account.



Thanks.

18 December 2009 P&L Adjustment A/c is used for revaluation of assets and liabilities. P&L Appropriation A/c is used for distribution of profit and crediting reserves.

18 December 2009 Thank you very much for your response sir.

In case an asset is revalued upwards we debit the concerned asset and credit revaluation reserve account. When does P & L Adjustment account come into picture?

Thanks.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries