Hy
proprietor withdraw some amount every month from business. is it good for business..
Business is profitable throughout year ??
5 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 06 April 2023
Yes, as there must be some drawings in every business
sabyasachi mukherjee
(27574 Points)
Replied 06 April 2023
Capital account is seperate and drawings seperate.
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 06 April 2023
Apart from equity = assets - liabilities there is nothing imortant. I think there are company laws that directors can draw accordingly.
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 06 April 2023
Apart from equity = assets - liabilities there is nothing imortant. I think there are company laws that directors can draw accordingly. But
Dr. Drawings
Cr. Bank both always tally. And capital account is reconciled with bank.
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