Accounting quetion

A/c entries 167 views 1 replies

Hi,

A sole proprietor can show his persoanal expense in his books of accouns?

He withdraw money for his personal use. How can i pass this entry. If i pass drawing entry, capial account is showing on Asstets side because his drawing is more than capital. How can i adjust this transaction?

 

Replies (1)

ACCOUNTING IS NOT APPROPRIATE.hence capital a/c is on asset side. can show..personal expenses as drawings in his books


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