16 November 2011
dear sir, can prop-witter take salary for himself, if no , how to account money take from business for his personal exp. can it show on drawing account under group capital .
16 November 2011
To correct you, its proprietor. Yes if you are maintaining accounts of your personal business, you can show it as salary in books (however no deduction will be available for the same, since paid to owner himself). Alternatively, better show it as drawings under Capital group.
CAclubindia
