Question

Used goods worth Rs 1000 for domestic purpose

Answer 1

journal entry

drawings A/c. Dr 1000
To. purchases A/c. 1000
(being goods used for domestic purpose )

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reasons for debit and credit

drawings account is debited because the owner is receiver of the goods in this case

purchases account is credited as a goods goes out of the business .

Answer 2

hey mate here is your answer

journal entry for this will be



drawings a/c dr. 1000

to purchase a/c. 1000

(being goods used for domestic purpose)


this has been done because the owner is using the bought goods for personal use