Question

What is the journal entry for "goods use or household"???

Answer 1

Journal Entry For Drawings :-

Sometimes, the proprietor or Owner withdraws goods or cash from the business for his own use, i.e., For household or Domestic use. It is known as Drawings. It is a personal account, i.e., Account of owner, as such, the owner is recovering benefits by drawings from the business, hence Drawings Account will be debited as per the rule of personal account, “Debit the receiver”. Purchases Account will be credited because as a result of the transaction the net amount of purchases of the business is reduced.

The entry for recording this transaction will be :-

Drawings A/c. Dr... (Amount)
To Purchases​ A/c. (Amount)

(Being Goods taken by the proprietor for his personal use)

Hopes this helps!

Answer 2

Hi friend,

Journal entry for This transaction :-

Drawings A/c---------Dr. [Amount ]
To Purchase A/c [ Amount ]

(Being , goods taken by the proprietor for household/ personal use )

Explanation :-

Drawings means cash , goods or services drawn by the owner , investor for self consumption....i hope it helps you

==============================

Mark me as a brainlist.