Partnership
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2012
drawing is debited in partners capital account ........plz tell the second effect of drawing as per double entry system .....
12 February 2012
Drawings is debit balance is adjusted with Capital is credit balance.
Drawing is some outgoing of cash or non case items from the business to partner`s personal. so second effect will be reduction of such items
Drawing is some outgoing of cash or non case items from the business to partner`s personal. so second effect will be reduction of such items
12 February 2012
Debit to the partner's capital account and credit to the in which way they made drawing for example: if as cash then to cash a/c; if as cheque then bank a/c; if as goods taken from business for personal use then stock in hand a/c; or any other such.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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