Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2010
what is the account treatment of the goods which are being used pursonal purpose?
27 May 2010
In case of firm,
you can debit drawing a/c and crediting the goods a/c which is used .
In case of other
you can debit Personal a/c of that person which is used good for personsal purpose and credit that good a/c
you can debit drawing a/c and crediting the goods a/c which is used .
In case of other
you can debit Personal a/c of that person which is used good for personsal purpose and credit that good a/c
CMA.Palani Arumugam
(Expert)
27 May 2010
Agreed.
In case of firm, alternatively you can debit the partner a/c. instead of drawings a/c.
In case of firm, alternatively you can debit the partner a/c. instead of drawings a/c.
28 May 2010
AGREED
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