Question

Drawings acount comes under which voucher in tally

Answer 1

The drawing account is an accounting record used in a business organized as a sole proprietorship or a partnership, in which is recorded all distributions made to the owners of the business. They are, in effect, "drawing" funds from the business (hence the name).

Answer 2

Answer:

Deduction from Capital Account in tally.

Explanation:

• All distributions given to the business owners are recorded in the drawing account, a type of accounting record used in sole proprietorships and partnerships. In essence, they are "pulling" money from the company (hence the name).
• The drawing account (having a negative balance) is regarded as a counter account because the capital account and owner's equity accounts are anticipated to have credit balances.
• An accounting record called a drawing account is kept to keep track of the funds and other assets that business owners withdraw. Businesses that are taxed as sole proprietorships or partnerships typically use drawing accounts.
• Since money, cash, or funds are a sort of asset, they are included in the definition of the drawing account along with assets rather than just money or cash. It is one of the many assets that can be taken out of the firm by the owner(s) for their own use and is a current asset of the company.

Thus this is the answer.

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