What is charged against profit and appropriation
Atharv Sankliya (1323 Points)
05 November 2021
what is charged against profit and appropriation of profit ??
Atharv Sankliya (1323 Points)
05 November 2021
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3374 Points)
Replied 05 November 2021
For a partnership, the primary purpose of the appropriation account is to show how profits are distributed among the partners. For an LLC, the appropriation account will start with profits before taxes and then subtract corporate taxes and dividends to arrive at retained profits.
Atharv Sankliya
(1323 Points)
Replied 05 November 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 07 November 2021
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