What is the journal entry for drawing money from bank for personal use?
Answers were Sorted based on User's Feedback
Drawing/Capital A/c Dr
To Bank A/c
(Being Cash withdrawn for Personal use)
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / shivangi
cash A/c.Dr.
bank A/c. Cr.
(being cash withdraw from bank.)
it will not taken in drawing a/c.,bcoz whether cash is used for any purpose but main point is cash is withdraw from bank. if cash is withdraw for personal use "from business" then drawing will dr. but here cash is withdrawn "from bank".
| Is This Answer Correct ? | 0 Yes | 3 No |
What u know abt mutual funds?
0 Answers Franklin Templeton, icl, Syntel,
What Is Bank Reconciliation ?
Dividends are usually paid as a percentage of ______ (a) Authorized share capital (b) Net profit (c) Paid-up capital (d) Called-up capital
i purchase a vehicle rs 500000,including vat 5% , registration fee rs 40420 and insuarance fee 18500, after the use two year i sale it. how to calculate it cost? what entry in tally?
What is ERS(Evaluated Receipt Settlement) in Accounts Payable? How is it related to 2 way matching?
why profit is a liability and loss is an asset?
What is BRS? Why BRS?
We had purchased 100 Electrodes @ Rs 20/- Each. After a year we found 2 Electrodes is missing by physical Count. My Question is what journal entry should we passed against missing of 2 electrodes.
what diff. between current assets and non current assets? with example.
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
What is BANK MSOD How to Prepare Bank MSOD.
2 Answers Infopower Technologies, QIS,
pass journal entry for Prepaid insurance