Accountancy, asked by sourav2017, 1 year ago

what is the journal of drew for personel use

Answers

Answered by Manvi1105
0
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When the cheque is drawn from the bank or the cash is withdrawn from the bank for personal use..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...

Hope this help solve ur query...
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