ZIMSEC O Level Principles of Accounting: Solution to Appropriation Account Example

Solution

Gandanga, Waeni and Banda

Appropriation Account for the Year ended 31 December 20×8

$$$
Net Profit transferred from the Profit and Loss Account84 800
Less:
Salaries:
Waeni32 000
Banda

24 000

46 000
Interest on capitals:
Gandanga2 500
Waeni2 000
Banda

1 500

6 000

(52 000)

32 800

Balances of profits shared:
Gandanga12 300
Waeni12 300
Banda8 200

32 800

To access more topics go to the Principles of Accounts Notes.

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