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My Question regarding owners drawings.
case1; If owner paid some expenses from his own pocket and
later that amount added to his salary then what adjustment
entries will needed.
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Answer Posted / neha
For EX expense made $1500 from Boss pocket and his salary
is $ 10000.Expense has to be adjust with salary
1) Expenses a/c Dr 1500
Boss a/c Cr 1500
2)Boss a/c Dr 1500
Director salary Dr 10000
Cash/Bank Cr 11500
| Is This Answer Correct ? | 3 Yes | 0 No |
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