drew cash forpersonal use
Answers
Answered by
0
Drawing A/c.__ Dr.
To cash A/c.
To cash A/c.
Answered by
1
Drawings include 3 cases :
♣ Case 1 :
============
When we withdraw any goods from the business.
The journal entry will be :
Drawings A/c Dr.
To Purchase A/c
♣ Case 2 :
============
When we withdraw cash from the business.
The journal entry will be :
Drawings A/c Dr.
To Cash A/c
♣ Case 3 :
============
When the cheque is drawn from the bank or the cash is withdrawn from the bank for personal use.
The journal entry will be :
Drawings A/c Dr.
To Bank A/c
[And the amount will be mentioned in the respective column.]
Hopes this helps you!
cheers! :)
♣ Case 1 :
============
When we withdraw any goods from the business.
The journal entry will be :
Drawings A/c Dr.
To Purchase A/c
♣ Case 2 :
============
When we withdraw cash from the business.
The journal entry will be :
Drawings A/c Dr.
To Cash A/c
♣ Case 3 :
============
When the cheque is drawn from the bank or the cash is withdrawn from the bank for personal use.
The journal entry will be :
Drawings A/c Dr.
To Bank A/c
[And the amount will be mentioned in the respective column.]
Hopes this helps you!
cheers! :)
Similar questions
Chemistry,
8 months ago
Social Sciences,
8 months ago
Math,
8 months ago
Math,
1 year ago
Economy,
1 year ago
Math,
1 year ago
Social Sciences,
1 year ago