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    • Question : Partner's salary is debited to: Option 1: Trading Account Option 2: Profit and Loss Account Option 3: Profit & Loss Appropriation ...
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    Question : Partner's salary is debited to:

    Option 1: Trading Account

    Option 2: Profit and Loss Account

    Option 3: Profit & Loss Appropriation Account

    Option 4: None of these

    Team Careers360 12th Jan, 2024
    Answer
    Answer (1)
    Team Careers360 21st Jan, 2024

    Correct Answer: Profit & Loss Appropriation Account


    Solution : Partner's salary is debited to the Profit and Loss Appropriation Account because it is an appropriation of profits. Hence, the correct option is 3.

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