Menu
What is charged against profit and appropriation
what is charged against profit and appropriation of profit ??
Replies (3)
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.
I am not asking treatment or purpose i am asking about what is difference between charge and appropriation of profit
Appropriation of profit is calculated after deduction of interest and remuneration paid to partners and charge is the expenses in P/l a/c
Recent Threads
- Can claim Itc
- Transfer of mutual funds to son as gift
- First Time ITR with 5000 penalty
- Loss due to non tradeable stocks
- What's CGAS?
- Income tax status
- Demand raised for 'Self assessment tax' amount AY2
- TDS payment using Form 26QB when buying property o
- Export sales not realised payment not received fro
- RCM related queries
Related Threads
CAclubindia
