Drawings account & entries in tally
This query is : Resolved
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10 January 2012
Please tell complete entries regarding drawings in proprietorship firm. drawings account to be created under which group. what treatment should be done at the end of year?
11 January 2012
Drawings A/c Dr.
To Cash/Bank
(Being cash withdrawn by proprietor)
Open drawings account under Capital A/c
Drawings account is to be shown as a deduction from Capital Account in the Balance Sheet.
To Cash/Bank
(Being cash withdrawn by proprietor)
Open drawings account under Capital A/c
Drawings account is to be shown as a deduction from Capital Account in the Balance Sheet.
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