27 May 2014
P&L Appripriation is a Specific purpose account where Surplus profit is dispensed amnogst as dividend or used for future expansion.It may includes
In Debit side: Transfer to general reserve, Used for dividend/Interim diviend/Proposed dividend,Dividend distribution tax, transfer to debenture redemtion account,
In credit side: Balance of last year,Profit of current year, excess provision written back or tax refund,amount withdrawn form general reserve.
CAclubindia
