Match List I with List II 

 Choose the correct answer from the options given below:

A-II, B-I, C-IV, D-III

The correct answer is option 1- A-II, B-I, C-IV, D-III.

* Partner’s Salary- It is an appropriation so it is debited to profit and loss appropriation account. The journal for this is as follow-
                                                        Profit and Loss Appropriation A/c Dr.
                                                                To Salary to Partner’s A/c

* Manager salary(Dr)- is debited to profit and loss account as it is an expense for the firm. The journal for this is as follow-
                                                        Profit and Loss A/c Dr.
                                                                To Salary to Manager A/c

* Distribution of Loss after appropriations- Loss is distributed between partners. Loss reduces the capital balance pf the partners so it is debited to their account. The journal for this is as follow-
                                                       Partner’s Capital/Current A/c (individually)
                                                                  To Profit and Loss Appropriation A/c

* Commission received(Cr)- is credited to profit and loss account as it is an income for the firm. The journal for this is as follow-
                                                Commission received A/c Dr.
                                                                  To Profit and Loss A/c