The Total solution for NCERT class 6-12
Profit and Loss Appropriation Account as on March 31, 2016
Dr.
Cr.
Particulars
Amount
₹
Profit transferred to
Profit and Loss
40,000
Abhay’s Capital
20,000
Siddharth’s Capital
12,000
Less: Guarantee to Kusum’s
(2,000)
10,000
Kusum’s Capital
8,000
Add: Deficiency received from Siddharth
2,000
Profit and Loss Appropriation Account as on March 31, 2017
60,000
30,000
18,000