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Withdrawal of properietor

savita (account OFFICER) (52 Points)

10 December 2016

THE WITHDRAWAL FROM PROPERIETORY FIRM FOR PERSONAL EXP GOES TO WHICH ACCOUNT HEAD IN BUSS.A/C BOOK.PLEASE REPLY

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2 Replies

Nihar Ranjan (Student) (92 Points)
Replied 10 December 2016

You may treated as Drawings :-Drawings A/c

jituparmar89@gmail.com (jituparmar89@gmail.com) (94 Points)
Replied 10 December 2016

i have a one question that one of my client is purchase a machinery part in small cash paid from retailer now i have daut to do in my knowledge i make a entry as properiter withdrawal cash and i treate a puchase of machine as a all small payment made a one journal entry example.. boll nut 23000/- burner 17000/- tank 2 28000/- the all total is withdrawal pernoal a/c 68000/-dr and cash cr... as a same journal machinery a/c 68000/- and properitoer a/c cr.. what their is right or wrong.... thankx in advance ....jitu...parmar accountant...