Which of the following...?

Question

are transferred to the profit & loss appropriation account?
debtors; creditors; bank overdraft; carriage in; carriage out; cash; factory power, light, heat; factory wages; buildings; office equipment; office salaries; plant & machinery; raw material purchased; sales; opening stock of raw materials; opening stock of finished goods; sundry office expenses; sundry factory expenses; drawings: G Ryans, C Michaels;Current Account: G Ryans(Debit); C Michaels (credit); capital: G Ryans, C Michaels

They don't all go in the appropriation account, some go in the trading, others in the manufacturing, others in the current and others in the balance sheet. So which ones go in the p&l appropriation a/c?

I would already have consulted by notes if I had any. We haven't covered this topic yet.

Answer 1

The following will be transferred to the profit and loss appropriation account via the trading and profit and loss a/c:
carriage in; carriage out; factory power, light, heat; factory wages; office salaries; raw material purchased; sales; opening stock of raw materials; opening stock of finished goods; sundry office expenses; sundry factory expenses.

Once each partner's share of profit is determined, they will be taken to the partners' current accounts.

However it seems to me that ending stocks are missing from the list. They are needed in the trading a/c to arrive at gross profit.