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Shopping of cloths

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(Querist)
09 February 2012 Respected Sir,

A Propritor of Iron and steel business has purchase cloths from his current Ac debit card.Can it be shown in his proft & Loss Ac or direct to his drawing Ac

Please guide.

Thanks & Regards

sarvesh
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CA. Hari Kishan

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CA. Hari Kishan (Expert)
09 February 2012 The expenses can be directly debited to the proprietor;s drawings account as the same is personal expenses of the proprietor.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
09 February 2012 It would be drawings so direct to his drawings a/c.
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