if i bought 10 car @ Rs1000 each.one car i used for office
use then what will be the entry?
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Answer Posted / rajendra
here we see that out of the 10 cars purchased only one car
is used in the business.so the remaining 9 cars are used
for personal use nd personal transactions are not entered
in books of accounts of the business.so the entry would be
here iam assuming that the case is taken from business
Drawings a/c..dr 9000
car a/c..dr 1000
to cash a/c 10000
( being cash withdrawn from business for purchase of cars)
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