entries
This query is : Resolved
22 November 2010
what should be entries drowing and entries capital
22 November 2010
propriters and for partnership firms is applicable these entries
Drawings/ Capital a/c dr
to cash/ bANK
Based on policy we can debit drawings or capital. my suggestion is debit to drawings only.
Cash/ Bank a.c dr
to Captial a.c
For capital introduction.
But as per income tax act necessary source are required for this amount
Drawings/ Capital a/c dr
to cash/ bANK
Based on policy we can debit drawings or capital. my suggestion is debit to drawings only.
Cash/ Bank a.c dr
to Captial a.c
For capital introduction.
But as per income tax act necessary source are required for this amount
22 November 2010
Capital Introduced ;
Debit Cash / Bank
Credit Capital
For DRAWINGS :
Debit Capital
Credit Cash/Bank
Debit Cash / Bank
Credit Capital
For DRAWINGS :
Debit Capital
Credit Cash/Bank
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