Business Studies, asked by pinder28, 11 months ago

cash withdrawn by neha for personal use.what is it entry​

Answers

Answered by neha8529
0

suppose

principal be = Rs 1000

rate =5%

time =1 year

Simple interest = p×r×t/100

1000×5×1/100

50 is the answer I think so

Answered by obedaogega
0

Answer:

When the owner of a business withdraws money for personal use, they reduce cash in the business therefore,it requires an additional entry in a drawings account because the drawing account is a capital account. It also reduces the owners equity.

Explanation:

Neha will have to create a debit entry for the money withdrawn in the drawings account and a corresponding credit entry in the cash account of the business.

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