Question

रेंट पैड ऑफ रुपीस 6000 इन विच हाउस ऑफ द बिल्डिंग वास यूज्ड बाय द प्रोपराइटर फॉर द प्रेसिडेंट व्हाट विल बी द जनरल एंट्री इन अकाउंट​

Answer 1

Explanation:

ANSWER

The journal entry of the goods taken by the proprietor for domestic use is:

Drawing account Dr.

To Purchases account

The goods taken by the proprietor for personal use, reduces the inventory of the business. Hence,it is placed on a temporary drawings account. It reduces the Owner's equity account. It is not an expense of the business.