Practicing Success
Practicing Success
CUET Preparation Today
| A and B are partners in a firm. Payment to partner B for the building, he allowed firm to use for the office purpose is wrongly debited to profit and loss appropriation account instead of which account: |
P & L A/c P & L Adjustment A/c Trading A/c None of these |
| P & L A/c |
| Payment of Rent to B is an expense for the business. Hence, it is charge against profits and debited to P& L A/c. |
