CA Foundation doubt
Why interest on loan is not shown in P/L appropriation account.
Asked by Tobeknown6 Jul 2024429 views
2 answers
TouBou · 6 Jul 2024
It's ia a kind of indirect expense also that's why it's showing in p and l a/c.And in appropriation a/c only those transactions is shown which is appropriate in between partners.
Dee · 6 Jul 2024
Because it is a charge against profit
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