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Salary paid to a partner will be shown in:
  • a)
    Profit and loss account
  • b)
    Partners capital account only
  • c)
    Profit and loss appropriation account
  • d)
    Partners current account only
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Salary paid to a partner will be shown in:a)Profit and loss accountb)P...
Salary paid to partner is an appropriation of profit. All appropriation items are shown in the Profit and loss appropriation account.
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Salary paid to a partner will be shown in:a)Profit and loss accountb)Partners capital account onlyc)Profit and loss appropriation accountd)Partners current account onlyCorrect answer is option 'C'. Can you explain this answer?
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