Question

XYZ Ltd. manufactures a document reproducing machine which has a Variable Cost Structure as follows: Rs. Material 40 Labour 10 Overhead 4 and a selling price of Rs. 90 Sales during the current year are expected to be Rs. 13,50,000 and Fixed Overhead Rs. 1,40,000.

Answer 1

Explanation:

Withdraw cash from bank for personal use - pass journal entry? Logic : There is decrease in the capital which is the liability of business for business owner. So, it will debit. Our bank account is the current asset, it is also decreased due to this transaction.