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journal entry for drawings?

Answers were Sorted based on User's Feedback



journal entry for drawings?..

Answer / dinesh

Drawing a/c dr
To bank a/c
(Draw a chewed for personal use)

Is This Answer Correct ?    0 Yes 0 No

journal entry for drawings?..

Answer / pydiraz

Bank A/C Dr.
To Cash / Purchase A/C

Is This Answer Correct ?    0 Yes 0 No

journal entry for drawings?..

Answer / grace

what if the item taken is not for perconal use but for
Office use?

Is This Answer Correct ?    0 Yes 3 No

journal entry for drawings?..

Answer / jahanzaib

Name of the person withdarws A/C dr.
To Cash A/C

Is This Answer Correct ?    0 Yes 3 No

journal entry for drawings?..

Answer / dale karthik

New journal for Drawings

Dale a/c to
karthik a/c

Is This Answer Correct ?    0 Yes 6 No

journal entry for drawings?..

Answer / e. rajasekaran

drawing a/c dr
to capital a/c
drawing a/c dr
to bank a/c

Is This Answer Correct ?    9 Yes 20 No

journal entry for drawings?..

Answer / anupama

capital a/c debit
to drawings a\c

Is This Answer Correct ?    60 Yes 113 No

journal entry for drawings?..

Answer / imtiyaz ali

DRAWING A/C DR
TO CAPITAL A/C

(BEING CASH WITHDRAW FROM BANK FOR PERSONAL USE)

Is This Answer Correct ?    12 Yes 67 No

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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts

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