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P, Q and R are running …

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P, Q and R are running a partnership firm. P is entitled a commission of 5% of net profit. Pass the necessary journal entry for recording this commission in the book profit for the year amounted ₹ 500000?

    • Posted by Abhi Saini 6 years ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Gayatri Nanda 5 years, 11 months ago

    Profit n loss appropriation account Dr. To p's capital/ commission account with 25000

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