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APPROPRIATION ACCOUNT
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- 1APPROPRIATION ACCOUNT- Ledger account dealing with the allocation of net profits between partners.
- In practice, often included as the final part of the statement of profit or loss.
- ALL allocations to partners are included in this account, i.e. partners salaries, interest on capital and drawings, and share of profits
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- ACCA CAP1 FINANCIAL ACCOUNTING (Session 7: Introduction to Partnerships) Flashcards on APPROPRIATION ACCOUNT, created by Jane Pollock on 01/05/2024.
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- Jane Pollock
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