Principles of Accounting: Solution to Appropriation Account Example

////Principles of Accounting: Solution to Appropriation Account Example

Principles of Accounting: Solution to Appropriation Account Example

ZIMSEC O Level Principles of Accounting: Solution to Appropriation Account Example

Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8

$$$
Net Profit transferred from the Profit and Loss Account84 800
Less:
Salaries:
Waeni32 000
Banda

24 000

46 000
Interest on capitals:
Gandanga2 500
Waeni2 000
Banda

1 500

6 000

(52 000)

32 800

Balances of profits shared:
Gandanga12 300
Waeni12 300
Banda8 200

32 800

To access more topics go to the Principles of Accounts Notes.

By |2018-03-05T13:44:40+00:00March 5th, 2018|Notes, Ordinary Level Notes, Principles of Accounts Notes|Comments Off on Principles of Accounting: Solution to Appropriation Account Example

About the Author:

He holds an Honours in Accountancy degree from the University of Zimbabwe. He is passionate about technology and its practical application in today's world.
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