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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2013 Goods taken for personal use
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
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..
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
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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