Answer / gajendra yadav

drawings a/c Dr
to purchase(if goods taken)
or
to cash (if cash withdrown by the owner)

Answer / b.narasimha rao

DRAWINGS A/C DR

TO CAPITAL A/C

Answer / satyaki_raju@yahoo.com

Drwings a/c dr
To cash/Purchases a/c

Answer / neelam rajesh

(if drawings made for personal use by owner)
Drawing a/c-Dr
to cash a/c-cr

(if goods taken)
Drawing a/c-Dr
to purchases a/c -Cr

(if drawings made from bank for office use)
cash a/c-Dr
to bank a/c-cr

Answer / niraj sharma

if it's in cash then

drawings a/c Dr.
cash a/c Cr.

if it's in material then

drawings a/c Dr.
purchase a/c Cr.

Answer / anoj

drawings a/c dr
or
capital a/c dr
to purchase(if goods taken)
To cash(if cash withdrawn/ taken )

Answer / ramakant agnihotri

Drawings A/c Dr.
To Cash/Purchase/Capital/Bank A/c

Answer / dale karthik

Hi guys sorry for the 12th answer. Following is the clear
explanation for the above question.
Whenever owner utilize the cash from the company the
Journal entry will be
Drawings A/c Dr
To Cash A/c
(Being cash withdrawn from the company)
If he utilize the goods from the company for his personal
use the Journal entry will be
Drawings A/c Dr
To goods A/c
(Being the goods used for his personal)

Answer / sankeerthana

My dear Narasimha Rao take care while passing a journal
entry. The natural positions of Drawings are always Debit
and the capital is alweys Credit If any body wants to
decrese the values the natural positions must be reversed.
So the entry will be Drawings has to be debited and credit
entry will be to Bank or cash.According to you Debit entry
is correct,but unnecessarily capital account was raised. Pl
rectify your self

Sankeerthana
www.therealaccountants.com

Answer / sudhu

DRAWINGS A/C .... DR
TO PURCHASE A/C

EXPAND___________MITI

1 Answers  

What is the title of Central Excise Return?

0 Answers   bscpl,

I have been interview in next week my posting is accounts officer i have be manage with AP,AR,BRS and GL what Books i have read.

0 Answers  

Expand ________BPO

3 Answers  

Since minority interest is balance sheet item, and got brought foward figure, how to disclose brought forward figure in consolidation work sheet instead of we make adjustment on current year to show their share in subsidiary.

0 Answers  

what is mutualfund?

20 Answers   Emaar, Franklin Templeton, SEBI,

WCT ,TDS,Service tax ,costmor accounting

1 Answers   Ashiana Housing,

Discuss the role of cost accounting in managerial decision making?

2 Answers  

Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?

0 Answers  

what are the acccounting standards ?

2 Answers  

What the trial balance proves us

3 Answers  

Short Answer on ___________Finance Bill

0 Answers