Advance car Booking

As per AS10  Fixed assets is an asset  which held with intention of  being used for the purpose of  producing Goods or providing services  for Business , so if you are using this car for personal  purpose you can not show as Fixed Asset in the Balance sheet of the Business . AS 10 is restricting for that . Therefore if you are withdrawing money from Business for purchase of CAR same will be treated as Drawings of Sole proprietor . 

Pass entry

1) Drawings   A/c   Dr

   To Bank

  ( Being amount withdrawn from Business for purchase  of CAR  )

2) Drawing  Transfer to Capital  entry

    Capital     A/c        Dr

   To Drawing    A/c   Cr

( Drawings transfer to capital account )

please confirm with others also .