ZIMSEC O Level Principles of Accounting: Solution to Appropriation Account Example
- This is a solution to a question that is found here
- You can also find the introduction to appropriation accounts here
Solution
Gandanga, Waeni and Banda
Appropriation Account for the Year ended 31 December 20×8
| $ | $ | $ | |
| Net Profit transferred from the Profit and Loss Account | 84 800 | ||
| Less: | |||
| Salaries: | |||
| Waeni | 32 000 | ||
| Banda | 24 000 | ||
| 46 000 | |||
| Interest on capitals: | |||
| Gandanga | 2 500 | ||
| Waeni | 2 000 | ||
| Banda | 1 500 | ||
6 000 | |||
| (52 000) | |||
32 800 |
|||
| Balances of profits shared: | |||
| Gandanga | 12 300 | ||
| Waeni | 12 300 | ||
| Banda | 8 200 | ||
32 800 |
To access more topics go to the Principles of Accounts Notes.
