When a business man take his net profit from his firm, how will make the entry

When a business man take his net profit from his firm, how
will make the entry in cash book?

Question Posted / rose

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When a business man take his net profit from his firm, how will make the entry in cash book?..

Answer / satyanandkati

partner capital account Dr
To cash A/c

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11 Yes

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When a business man take his net profit from his firm, how will make the entry in cash book?..

Answer / narasimha

drawing a/c dr
to cash a/c

being the amount take from profit for his personal use
purpose

Is This Answer Correct ?

2 Yes

0 No

When a business man take his net profit from his firm, how will make the entry in cash book?..

Answer / binu.vs

Parter Drawings a/c Dr. (under current Assests)
To Cash
(being cash paid to partner for his personal use)

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0 No

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