Question

08 Goods taken for Personal use of the proprietos Rs.500 journal entry?​

Answer 1

Explanation:

drawing ac Dr 500

to propreitor ac 500

Answer 2

Answer:

Goods used for personal use by the proprietor is drawings.

Journal  entry :

Drawings A/c----------------Dr  500

         To Goods A/c                      500

(Being goods used for personal use of the proprietor)

Explanation:

As per business entity concept business and personal uses are debited to the proprietor.