What is the purpose of a partnership appropriation account? A to avoid disagreements between the partners B to calculate residual profits for division between partners C to calculate the profit sharing ratio D to determine the amount of partners’ salaries

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter19: Accounting For Partnerships
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What is the purpose of a partnership appropriation account?

A to avoid disagreements between the partners

B to calculate residual profits for division between partners

C to calculate the profit sharing ratio

D to determine the amount of partners’ salaries

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