Drawings
This query is : Resolved
31 January 2013
dear sir
drawings means total withdraw from bank acccount+total deposited lic premium + any other like thi? and also its treatment in balance sheet.please advice me thanks....
drawings means total withdraw from bank acccount+total deposited lic premium + any other like thi? and also its treatment in balance sheet.please advice me thanks....
Amol S Joglekar
(Expert)
31 January 2013
withdrawl from bank may NOT necessarily represent DRAWINGS. It could be for expenses for business also.
31 January 2013
dear amol sir
thanks for valuable replies. sir to more under stand here some pariticulars of an assessee are give below please answerd to easy undserstand total withdrawls from bank Rs 210000 total deposited lic premium
49999,salary paid 24200, depricition provide 51200, intarest on loan 23334, other exp 4635conveyance exp 24567 cash at bank 28500 and lic premium paid for financial year of rs 13240. here what will be the amoun of drawings. thanks....
thanks for valuable replies. sir to more under stand here some pariticulars of an assessee are give below please answerd to easy undserstand total withdrawls from bank Rs 210000 total deposited lic premium
49999,salary paid 24200, depricition provide 51200, intarest on loan 23334, other exp 4635conveyance exp 24567 cash at bank 28500 and lic premium paid for financial year of rs 13240. here what will be the amoun of drawings. thanks....
Amol S Joglekar
(Expert)
02 February 2013
The balancing figure can be taken as DRAWINGS.
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