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How can a profit & loss appropriation account have opening & closing
balance ?what would be journal entry for it?

Question Posted / shweta


How can a profit & loss appropriation account have opening & closing balance ?what would b..

Answer / abdul qudoos

privious balance of profit is called p/L appropriation
Account

Profit and Loss Appropriation A/C
To Profit and Loss Account

Is This Answer Correct ?    1 Yes 2 No

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