Partners salary is shown in the
Question 1 Report
Partners salary is shown in the
Answer Details
Partner's salary is shown in the profit and loss appropriation account. This account is used to distribute the net profit of a partnership among the partners according to the terms of their partnership agreement. The profit and loss appropriation account contains various items, such as partner's salaries, interest on capital, and profit shares allocated to each partner. Partner's salaries are usually fixed amounts that are paid to partners for their services to the partnership, and they are deducted from the net profit of the partnership before the remaining profits are allocated among the partners.
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