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Basics of Practical Life

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(Querist)
25 May 2008 If I transfer a sum to my father for his livelihood through bank.
The journal entry would be

Drawings A/c___________Dr.
To Bank A/c

or will be treated as loan

Loan A/c___________Dr.
To Bank A/c

(Note: the amount is not refundable & nor i am charging any interest, its my responsibility to take care of them and hence its a transfer so that they can meet their expenditure as I live outside town)
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
25 May 2008 Drawings a/c Dr
To Bank
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JaiPrakash Agarwal

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JaiPrakash Agarwal (Querist)
26 May 2008 In that Case, What journal entry will be passed in my father's book.

Bank A/c________________Dr.
To Capital A/c

I presume!!!!!!!!
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CA Anuj Garg

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CA Anuj Garg (Expert)
26 May 2008 Yes you are right
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JaiPrakash Agarwal

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JaiPrakash Agarwal (Querist)
26 May 2008 ok thanks to both of u
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