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Dear Expert How to show self purchase bill in the books of account which is a commission agent
Replies (6)
Under Expense head then transfer to Capital Account...
No sir it's not purchase for personal use it purchase for sale then
Raja sir is right.
it is to be consider as drawings.
entry is Drawings a/c dr
to Purchases
later drawings amount to be adjust with Capital
Capital a/c Dr.
To drawings a/c
| Originally posted by : Nishikant | ||
 |
No sir it's not purchase for personal use it purchase for sale then |  |
Then You can treat as Business. That's all. You ll Elobrate your view then we can discuss it with details...
If we consider as a drawing it's amount bigger than capital then what to do
negative capital a/c balance. i.e. capital account with debit balance.
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