what is the journal of drew for personel use
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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When the cheque is drawn from the bank or the cash is withdrawn from the bank for personal use..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...
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When the cheque is drawn from the bank or the cash is withdrawn from the bank for personal use..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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