Credit card personal use

This query is : Resolved

satish (Querist)
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24 September 2012 DEAR SIR,

PROPRIETOR USE CREDIT CARD AND TRANSACTION OF CREDIT CARD IS SHOPPING FOR HOUSE, DRESS FOR CHILDREN & PETROL EXP.

IN BOOKS SHOPPING & DRESS TRANSACTION.
HOW TO MAKE THIS ENTRY IN BOOKS..
WHICH HEAD WILL BE DEBIT.

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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24 September 2012 Since This is Personal Expenses, Then U Cant Show It Under Prop Books, Show It Under Personal Accounts.
Not Allowable Expenses.

Entry Will be in Books of Firm

Capital Account Account Dr. (Drawings Account)

to Bank/Cash (Payment of Mode to Credit Card)