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Why should we prepare profit
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Answer / rehan
Profit and loss appropriation account is prepare to konw how profit and loss distributed among the partners.........this video is best to understand the p/l app. a/c..........
http://www.youtube.com/watch?v=qMtWUFzx4Zw
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Answer / akash
p/l Appropriation account is prepared after we enter the Net profit in the Balance sheet and we take that Net Profit as the opening balance in the next year.
It is prepared to appropriate/distribute the funds in various dimensions such as Reserves.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / apala saxena
Profit and loss appropriation account is prepared to show the distribution of profit among partners
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ashif
The purpose of preparing of profit and loss account ..it will show company all profit and ...finally it will easy to find company Financial Reporting and accounting
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / abhishek
the main purpose of preparing the appropriation account is to show the distribution of the business profits to the partners.
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / chandru
to check wheather the firm ascrtain the profit or loss...
during the curent accounting period
| Is This Answer Correct ? | 28 Yes | 40 No |
Answer / illuruviswam
The purpose of preparing profit&loss appropriation account
is "how the company has been utilized its profits.this word
better to use in company form of accounting than partnership.
| Is This Answer Correct ? | 7 Yes | 19 No |
Answer / rajesh sharma
In concern is built to many department or products in a
business for we better result we also keen to know the
actually performance of various department or product, It
is necesary prepare P & L A/c appropriation.
| Is This Answer Correct ? | 5 Yes | 21 No |
Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.
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