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Difference between p/l appropriation and suspense

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Difference between p/l appropriation and suspense

Posted by Radha Sharma 5 years, 7 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 5 years, 7 months ago

Basis	Profit & Loss Appropriation Account	Profit & Loss Suspense Account
Objective	Profit and loss Appropriation Account is prepared to show the allocation and distribution of Net Profit among the partners and reserves. It's a separate account that shows how profit obtained from Profit and Loss account is spent.	Profit and Loss Suspense Account is prepared when some fictitious profit, before ascertainment of actual profit, is calculated to adjust the deceased partner's share of profit, upto the date of his death.

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