Question

What will be the journal entry for
.
.
● Withdrew from bank for paying income tax
( In my guide it's written as :
.
Drawings A/c ......Dr.
...... To,Bank A/c )
● I need explanation please guys it's a request
.
THANK YOU

Answer 1

Withdrew from bank for pying income tax means that we drew money from bank then drawing a/c dr.

When we withdraw money then the cash came in our hand through bank we paid income tax then what will be reduce ......its bank

Then to bank a/c cr.

I think uu better understand if u dont understand then ask me I clearly explained you once more