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Hi Everybody,
i would like to know the journal entry for the below
question,
1). One color Tv is taken by proprietor for Personel use.
also in TALLY Accounting package how i can post,if it is
drawings,under which account, please let me know.
Thanks,
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Answer Posted / satyakiraju
So many wrote Drawings Account Dr to Capital.
Pl mind capital account always shows Credit bal Drawings
decrease the value of capital. So all you are instead of
decreasing Capital balance increasing Capital
DRwaings A/c Dr
To Purachse of TVs is correct
Or if it is exclusively purchased for proprietors personal
use you have to pass the entry as
Drawings A/c Dr
To Cash
( Being TV purchased for proprietor)
I am giving practical exposure in Tally Accounting thru
online classes with original business documents. If
interested pl send your mail id to my telephone for
specially prepared notes to watch my classes
cell:9393999757
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