Drawing entry
This query is : Resolved
28 April 2010
in the partnership firm ,which a/c will dr. & cr.against drawing. and when drawing amount return in co. then what will be entry
28 April 2010
In partnership, if no current account of partners are maintained then
For drawings
Partner Capital Account...dr.
To Bank/ cash Account.....Cr.
For Reinvestment
Bank/Cash Account.....Dr.
To Partners Capital Account...Cr
If CURRENT accounts of partners are maintained then
For drawings
Partner Current Account...dr.
To Bank/ cash Account.....Cr.
For Reinvestment
Bank/Cash Account.....Dr.
To Partners Current Account...Cr
For drawings
Partner Capital Account...dr.
To Bank/ cash Account.....Cr.
For Reinvestment
Bank/Cash Account.....Dr.
To Partners Capital Account...Cr
If CURRENT accounts of partners are maintained then
For drawings
Partner Current Account...dr.
To Bank/ cash Account.....Cr.
For Reinvestment
Bank/Cash Account.....Dr.
To Partners Current Account...Cr
28 April 2010
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