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Drawings account & entries in tally

This query is : Resolved 

10 January 2012 Please tell complete entries regarding drawings in proprietorship firm. drawings account to be created under which group. what treatment should be done at the end of year?

11 January 2012 Drawings A/c Dr.
To Cash/Bank
(Being cash withdrawn by proprietor)

Open drawings account under Capital A/c

Drawings account is to be shown as a deduction from Capital Account in the Balance Sheet.



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