The steps in the Process of Preparing Profit and Loss Appropriation account are:
(A) Transfer the net profit to the credit side of P & L Appropriation A/c
(B) Divide the Profit among partners in the Profit Sharing ratio
(C) Ascertain net profit after providing for all charges
(D) Debit the P & L Appropriation A/c with all appropriations like partners salary etc.
(E) Credit the P & L Appropriation A/c with interest on drawing and deficiency on account of partner's guarantee of earnings to the firm.

Choose the correct answer from the options given below.

(C), (A), (D), (E), (B)

The steps in the Process of Preparing Profit and Loss Appropriation account are:
(A) Ascertain net profit after providing for all charges.
(B) Transfer the net profit to the credit side of P & L Appropriation A/c
(C) Debit the P & L Appropriation A/c with all appropriations like partners salary etc.
(D) Credit the P & L Appropriation A/c with interest on drawing and deficiency on account of partner's guarantee of earnings to the firm.
(E)  Divide the Profit among partners in the Profit Sharing ratio