Hi,
A sole proprietor can show his persoanal expense in his books of accouns?
He withdraw money for his personal use. How can i pass this entry. If i pass drawing entry, capial account is showing on Asstets side because his drawing is more than capital. How can i adjust this transaction?
ACCOUNTING IS NOT APPROPRIATE.hence capital a/c is on asset side. can show..personal expenses as drawings in his books
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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Interactive Media Pvt Ltd.
New Delhi
CA Inter
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