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Querist : Anonymous (Querist)
27 May 2010 what is the account treatment of the goods which are being used pursonal purpose?
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
27 May 2010 In case of firm,
you can debit drawing a/c and crediting the goods a/c which is used .

In case of other
you can debit Personal a/c of that person which is used good for personsal purpose and credit that good a/c
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CMA.Palani Arumugam

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CMA.Palani Arumugam (Expert)
27 May 2010 Agreed.
In case of firm, alternatively you can debit the partner a/c. instead of drawings a/c.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
28 May 2010 AGREED

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