Question

enter the following transaction in books of mr. anandhan: 2000 janauary 1 started business with cash Rs.10000 deposited into bank Rs.7000 goods purchased for cash is Rs.500 withdrew from bank for office use Rs.100 credit sales to Krishna Rs.150 credit purchase from mohan Rs. 500​

Answer 1

Answer:

Drawings are the amounts taken by the owner of a business for his personal use in anticipation of profit. Drawings are usually made in the form of cash, but there could be other assets or goods withdrawn by the owner for his personal use.

Journal Entry will be:-

Drawing A/c Dr. 

   To Bank A/c.