Answer / gajendra yadav

drawings a/c Dr
to purchase(if goods taken)
or
to cash (if cash withdrown by the owner)

Answer / b.narasimha rao

DRAWINGS A/C DR

TO CAPITAL A/C

Answer / satyaki_raju@yahoo.com

Drwings a/c dr
To cash/Purchases a/c

Answer / neelam rajesh

(if drawings made for personal use by owner)
Drawing a/c-Dr
to cash a/c-cr

(if goods taken)
Drawing a/c-Dr
to purchases a/c -Cr

(if drawings made from bank for office use)
cash a/c-Dr
to bank a/c-cr

Answer / niraj sharma

if it's in cash then

drawings a/c Dr.
cash a/c Cr.

if it's in material then

drawings a/c Dr.
purchase a/c Cr.

Answer / anoj

drawings a/c dr
or
capital a/c dr
to purchase(if goods taken)
To cash(if cash withdrawn/ taken )

Answer / ramakant agnihotri

Drawings A/c Dr.
To Cash/Purchase/Capital/Bank A/c

Answer / dale karthik

Hi guys sorry for the 12th answer. Following is the clear
explanation for the above question.
Whenever owner utilize the cash from the company the
Journal entry will be
Drawings A/c Dr
To Cash A/c
(Being cash withdrawn from the company)
If he utilize the goods from the company for his personal
use the Journal entry will be
Drawings A/c Dr
To goods A/c
(Being the goods used for his personal)

Answer / sankeerthana

My dear Narasimha Rao take care while passing a journal
entry. The natural positions of Drawings are always Debit
and the capital is alweys Credit If any body wants to
decrese the values the natural positions must be reversed.
So the entry will be Drawings has to be debited and credit
entry will be to Bank or cash.According to you Debit entry
is correct,but unnecessarily capital account was raised. Pl
rectify your self

Sankeerthana
www.therealaccountants.com

Answer / sudhu

DRAWINGS A/C .... DR
TO PURCHASE A/C

your purchases 10 Furniture from Other company, your starting own furniture business. each furniture value is Rs.1000/-, your business purpose use 2 furniture. and other furniture are sales purpose ! pls tel me Purchases Entry !

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