Question

17. Goods taken away by the proprietor from business for his personal use will be recorded in:
a. Purchases Book
b. Journal Proper
Sales Book
d. Purchases Return Book​

Answer 1

Answer:

ANSWER

The journal entry of the goods taken by the proprietor for domestic use is:

Drawing account Dr.

To Purchases account

The goods taken by the proprietor for personal use, reduces the inventory of the business. Hence,it is placed on a temporary drawings account. It reduces the Owner's equity account. It is not an expense of the business.

Answer 2

Answer:

journal proper it is the right answer for this question

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