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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2013 Goods taken for personal use

07 December 2013 Capital A/c Dr
To Purchases

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2013 thank you sir, but let me know why capital is reflecting in this entry..

07 December 2013 When you take goods for personal use its drawings and therefore capital account is is debited. Goods are reducing so purchase account is credited.

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2013 thank you sir.


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