Hi Everybody,
i would like to know the journal entry for the below
question,
1). One color Tv is taken by proprietor for Personel use.
also in TALLY Accounting package how i can post,if it is
drawings,under which account, please let me know.
Thanks,
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Answer / imtiyaz
sorry guys both spells are wrong . if you use colour tv as
a stock running into the bussines then it will uder stock
in hand or if you just purchase from other co. then it will
be fixed assets. The entry will be
Drawing A/c Dr
To Capital A/c
Note : - Always drawing will be deducted from capital.If
anything is wrong then let me know
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / srinivasa
Drawings Accounting Dr
to Capital a/c(proprietor a/c)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / khan
Mr. Amit Chakraborty,
many thanks for your reply, but it is color Tv and not
Cooler, anyway no problem, ok drawings comes under Capital
Account, then what about Color/Cooler means under which
account. please let me know,
Thanks & regards,
Khan
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / shabeer moidu
DRAWINGS A/C DR
TO PURCHASE A/C
IN TALLY PASS THIS ENTRY THROUGH JOURNAL VOUCHER SAME AS
ABOVE SECCOND STEP SYSTEM ASKE NAME OF ITEM THERE MENTIONED
ITEM NAME .
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / satish
DRAWINGS ARE LIKE LOAN THAT U ARE WITHDRAWING FROM YOUR
BUSINESS AND ON WHICH INTEREST ON DRAWINGS BECOME DUE TO THE
CO'S BUSINESS THEN UNDER CAPITAL IT SHOULD BE DEDUCTED
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / jishadali
it can be done either
as
Dravvings a/c...........Dr
to Capital
OR
1. TV a/c..................Dr
to Capital
(purchase from capital) &
2. Dravvings a/c...........Dr
to TV
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / satyakiraju
So many wrote Drawings Account Dr to Capital.
Pl mind capital account always shows Credit bal Drawings
decrease the value of capital. So all you are instead of
decreasing Capital balance increasing Capital
DRwaings A/c Dr
To Purachse of TVs is correct
Or if it is exclusively purchased for proprietors personal
use you have to pass the entry as
Drawings A/c Dr
To Cash
( Being TV purchased for proprietor)
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| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / vishal
Drawings a/c dr.
cash a/c cr.
In narration we can write about this transaction.
| Is This Answer Correct ? | 0 Yes | 3 No |
Answer / zergham
drawing a/c
to capital a/c
then
Color TV a/c
to drawing a/c
| Is This Answer Correct ? | 0 Yes | 3 No |
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