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Drawing entry

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(Querist)
28 April 2010 in the partnership firm ,which a/c will dr. & cr.against drawing. and when drawing amount return in co. then what will be entry
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Rahul Gupta

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Rahul Gupta (Expert)
28 April 2010 In partnership, if no current account of partners are maintained then
For drawings
Partner Capital Account...dr.
To Bank/ cash Account.....Cr.

For Reinvestment
Bank/Cash Account.....Dr.
To Partners Capital Account...Cr

If CURRENT accounts of partners are maintained then
For drawings
Partner Current Account...dr.
To Bank/ cash Account.....Cr.

For Reinvestment
Bank/Cash Account.....Dr.
To Partners Current Account...Cr
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
28 April 2010 AGREE WITH EXPERT
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CA Shiv

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CA Shiv (Expert)
28 April 2010 agree with rahul sir.....Thnaks sir for sharing....

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