Net profit is shown in the ___ Side of profit & loss appropriation account.

Debit

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Credit

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Either debit or credit

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None of the above

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Solution

The correct option is B
Credit

Net Profit (From the income statement) is shown to the credit of profit & loss appropriation account.

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Similar questions

Q. If the total of the credit side of the profit and loss account is more than the total of the debit side, the difference is the net profit.

Which of the following are shown on the debit side of profit or loss account?

Q. Excess of credit over debit in Profit and Loss A/c indicates ________.

Sohan’s A/c is debited by Rs. 2,500 while it was to be debited by Rs. 3,500 and Mohan’s A/c is debited by Rs. 3,500 while the same was to be debited by Rs. 2,500. For this error, which of the following can be a rectifying entry?

Debit balance in the profit and loss account is a profit. Comment.

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Net profit is shown in the ___ Side of profit & loss appropriation account.

The correct option is B Credit Net Profit (From the income statement) is shown to the credit of profit & loss appropriation account.

The correct option is B
Credit

Net Profit (From the income statement) is shown to the credit of profit & loss appropriation account.