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When a business man take his net profit from his firm, how
will make the entry in cash book?
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Answer Posted / binu.vs
Parter Drawings a/c Dr. (under current Assests)
To Cash
(being cash paid to partner for his personal use)
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The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
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