Music, asked by lidwinshanthi, 7 months ago

can anyone help me out with simple cash book question( accountancy)

feb-28 cash withdrawn from business for personal use 2,000

(my doubt was is it debited or credited)

please if youll know the answer then only give the answer , please dont give wrong answers if youll dont know , because this is very important.THANK YOU.

Answers

Answered by Himanshisharma9528

Answer:

don't know srypls really sorry

Answered by alberteinsten11

Answer:

Business entity concept of accounting says that business and the owner are treated two separate entity.

Hence anything contributed by owner considered liability for the business. On the same line, if anything (goods/cash) withdrawn by the proprietor for personal use is called as drawings.

Accounting entry will be as under:

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