Answer Posted / toms thankachan

hi sai, if the MD issues his own cheque for his personal
insurance - the question itself is not relevant. we dont
have any thing to do.

Case 1: if the co. is responsible for paying his insurance -
he paid with his personal cheque.

Insurance a/c ... dr
To MD's a/c


Case 2: if he issues cheque from co. for his personal ins
Drawings a/c....dr
To Bank a/c
(in this case on BRS has the normal effect as we issued a
cheque for some expense)

I hope its clear now.

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