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(Being Cash withdrawn for Personal use)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 but here cash is withdrawn "from bank".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 |
Cello pen gross value is 935.89 for 12 nos 14.5% tax
What are the 4 types of ppe?
How do you relate yourself with Accounts?
Please advise how to calculate net asset....
what is rate of service tax for construction co?
In accounting, vat abbreviates what?
How can you made payment when bill come from vendor, what is the bills have you check.
If Pass book & Cash Books Balances are showing same so are you need to BRS ?
Increase in one equity with no change in the asset will result in .................... of another equity
distribution of gift in diwali to employee & buyer!! what's suitable expences head.
2 Answers Hindustan Institute of Technology,
How create the invoices?
0 Answers Infomatics Software Solutions,
Reconciliation a/c in SAPM ERP