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What is the basic Difference between Retain Earning and Profit and Loss Appropriation?

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Question added by Md. Sayem Sayem , Assistant Manager , HMBR Group. (Tools & Chemical)
Date Posted: 2016/01/27
Nargis Qureshi
by Nargis Qureshi , Sr. Executive Technician , Mphasis

The Statement of Retained Earnings or Profit and Loss Appropriation Account is a financial statement that summaries the transaction affecting the retained earning accounts balances. It should be remembered that retained earnings account is prepared only for limited companies.

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Necessity For Adjusting Entries in Accounting » Cash Versus Accrual Basis Accounting » Types of Accounting Adjustments » Identifying the Basis for Accounting Adjustments » Example of Adjustment Entries and its Solution » Work Sheet » Specimen Format of the Work Sheet » Steps in Preparing the Worksheet » Financial Statements » Statement of Retained Earning or Profit & Loss Appropriation Account » Balance Sheet » Difference Between Trial Balance & Balance Sheet

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