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What is charged against profit and appropriation
what is charged against profit and appropriation of profit ??
Replies (3)
Quick Summary
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
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