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I dont understand how to find the figures I need to balance the Profit and Loss Appropriation Account I have to do as part of
I dont understand how to find the figures I need to balance the Profit and Loss Appropriation Account I have to do as part of an assessment. The book I have doesnt really help me much and Im totally lost can you please help me I am getting desperate.
Larry, Curly and Moe are in a partnership business named Stooges Enterprise. According to their partnership agreement they share profits in the ratio of :: At the end of the financial year net profit from trading was $
Required:
d Prepare a profit and loss account commencing with the balance brought down of $
e Prepare a profit and loss appropriation account
f Prepare partners' current accounts
g Prepare a balance sheet extract owners equity section
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