What is charged against profit and appropriation
Atharv Sankliya (1359 Points)
05 November 2021
what is charged against profit and appropriation of profit ??
3 Replies
Rama chary Rachakonda
(Master in Accounts & high court Advocate)
(8656 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
(1359 Points)
Replied 05 November 2021
I am not asking treatment or purpose i am asking about what is difference between charge and appropriation of profit
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 07 November 2021
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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