Question

Identify the journal entry for transferring salaries paid to the Active Partner A to the Profit and loss Appropriation A/c.

विकल्प

• Profit and Loss Appropriation A/c	Dr.
  To Salary A/c
  (Being Salary transferred to Profit and Loss Appropriation Account)

• Profit and Loss Appropriation A/c	Dr.
  To A's Capital A/c
  (Being Salary transferred to Profit and Loss Appropriation Account)

• A's Capital A/c	Dr.
  To Profit and Loss Appropriation A/c
  (Being interested in drawings transferred to Profit & Loss Appropriation A/c)

• Salary A/c	Dr.
  To A's Capital A/c
  (Being interested in drawings transferred to Profit & Loss Appropriation A/c)

Answer 1

Profit and Loss Appropriation A/c	Dr.
To Salary A/c
(Being Salary transferred to Profit and Loss Appropriation Account)

Explanation:

The salary account is credited and the profit and loss appropriation account is debited when the salary is transferred to the profit and loss appropriation account.