Question

which of the following is not debited to general profit and loss a/c?​

Answer 1

Step-by-step explanation:

Drawings are not the expenses of the firm. Hence, debit it to the Capital a/c and not to the Profit and loss a/c. Income tax: In the case of companies income tax is an expense but in the case of a sole proprietor, it is his personal expense. Therefore, debit it to Capital A/c.

Answer 2

$\huge\star\underline \mathtt\purple{Answer}$

• Drawings are not the expenses of the firm. Hence, debit it to the Capital a/c and not to the Profit and loss a/c. Income tax: In the case of companies income tax is an expense but in the case of a sole proprietor, it is his personal expense. Therefore, debit it to Capital A/c.

@MissTranquillity