Question : Which of the following items is not dealt with through a Profit and Loss Appropriation Account?

Option 1: Interest on partner's loan

Option 2: Partner's salary

Option 3: Interest on partner's capital

Option 4: Partners commission

Question : Which of the following items is not dealt with through a Profit and Loss Appropriation Account?

Option 1: Interest on partner's loan

Option 2: Partner's salary

Option 3: Interest on partner's capital

Option 4: Partners commission

Question : Which one of the following items will not come in the Profit and Loss Appropriation Account?

Option 1: Interest on partners capital

Option 2: Salary to partner

Option 3: Commission to partner

Option 4: Interest on loan to a partner

Question : Choose the correct Journal entry If the profit-sharing ratio of the remaining or continuing partners does not change in case of profit.

Option 1: Profit and Loss Suspense A/c ...Dr.

To Deceased Partner ‘s Capital A/c

Option 2: Deceased’s partner’s capital account Dr 

To profit and loss suspense account 

Option 3: Profit and loss appropriation account Dr 

To Deceased partner’s capital account

Option 4: Profit and l;oss  adjustment account Dr ]

      To deceased  partner’s capital account

Question : Choose the correct Journal entry If the profit-sharing ratio of the remaining or continuing partners does not change in case of profit.

Option 1: Profit and Loss Suspense A/c ...Dr.

To Deceased Partner ‘s Capital A/c

Option 2: Deceased’s partner’s capital account Dr 

To profit and loss suspense account 

Option 3: Profit and loss appropriation account Dr 

To Deceased partner’s capital account

Option 4: Profit and l;oss  adjustment account Dr ]

      To deceased  partner’s capital account