Drawings will come in which ac

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CA Aditya

CA Aditya (Querist)
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26 June 2010 Hello All,

Drawings will come exactly in which a/c..
I.e Personel or real account

Regards

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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26 June 2010 Personal Account

CA Aditya

CA Aditya (Querist)
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26 June 2010 Thanks Sanjay,

But Personel ac- dr-receiver and cr-giver
Real a/c-- dr-what comes in and cr- what goes out
Drawings means something is taken away by the prpritor.. so it should be the real ac ...

Regards

CS Richa Sharma

CS Richa Sharma (Expert)
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01 July 2010 I think this will clear ur doubt:-
Classification of Personal Accounts:
(a) Natural personal accounts: It relates to transactions of human beings like Ram, Rita, etc.
(b) Artificial (legal) personal accounts: For business purpose, business entities are treated to have separate entity. They are recognized as persons in the eye of law for dealing with other persons. For example: Government, Companies (private or limited), Clubs, Co-operative societies etc.
(c) Representative personal accounts: These are not in the name of any person or organization but are represented as personal accounts. For example: outstanding liability account or prepaid account, capital account, drawing account.

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