Goods withdraw for office use

I do have the same question.

What is the Journal entry if goods taken for office use (eg: It's a Mat shop and a 'Mat' is taken for office hall)

Could you tell me the journal entry? also it has to be reduced from the stock items.

Could you tell me the journal entry?

Dr. Expenditure Head - XXXX
Cr. Stock Item (Mate) - XXXX

also it has to be reduced from the stock items.

-> Yes, It's reduce...

@ Raja PM don't reiterate! Your very good but certain laws to not appreciate anyone here. 

@ square one

When your owner withdraws stock for personal consumption

Dr. Owners equity

Cr. Inventory

When your office wants to draw it

Dr. Administration/Office expenses

Cr. inventory

@ Yasaswi,

Here not a matter that I'm good or not...
Here all are still learn and share.
I'm not irritate to anyone and giving just to correct myself if any mistakes by me. Also try to give solution to queries...
In case any wrong or mistaken by others then I try to get correction or better reply from them...

Coming to the query again:

The first query is not own use question...
So, No way for giving reply based drawing of the promoter.

The second query also the same and it's not a drawing of the promoter...
Then no way for JV of Promoters capital account...

I don't know other view. The second query purely Expenditure account and the JV to expense...

Good Luck...

Ok sir - this is a mistake here

Thank you- this is a mistake here 

I'm talking about those things. 

I don't know how correct is debiting owners equity here, but someone must pay for the goods. Business entity is correct 

But how to reconcile bank.? 

Maybe 

Dr. Closing stock p&l 

Cr. Inventory asset

And 

Dr. Capital 

Cr. Bank for manufacturing.

I can't understand Mr Yasaswi.,

Are You told "My replies are mistake here"...??

Please clear...

But how to reconcile bank.? 

I don't know how its affect bank...???

But how to reconcile bank.? 

I don't know how its affect bank...???

I don't say anyone has wrong answer. Otherwise how did they their exams. Somehow, as we all know this is a rude and when someone replies many interpretations come up into my mind as well. 

Cool Bro,

Exams is not strictly required 100% marks... Right???

Why we think about others...?

We don't think about that.
We want to see the query as well as that nature. After that we will give replies...

The querist correctly noted "if it's used for personal then its- drawings"
But, For office Use "What is the Journal Entry".

The withdrawn goods used in office for many options based on goods and its usage, like.

- May be to use FA
- May be to use Repairs and Maintenance
- May be to use Electical
- May be any other activities...

So, The JV is based on above and to convert suitable Expenditure head...


Am I Right...???

You have seen for drawings JE that it does impact bank. Even for office use

Dr. Inventory - pl

Cr. Inventory- asset

And 

Dr. Office expense

Cr. Bank (amount used for purchases and manufacturing) 

So since bank already incurred and we can simplify it like

Dr. Office expense

Cr. Inventory

Usually if we make sales inventory reduces but bank is included into the entry but not inventory. We can change it like

Dr. Inventory - pl

Cr. Sales

And 

Dr. Bank 

Cr. Inventory 

Lol

😇😇😇😇😇Sorry Bro...

I don't know bro 🙏🙏🙏

or

I'm not educated as this way Bro...

Sorry Bro....

🙏🙏🙏🙏🙏

Don't feel so bad or good @ Raja Pm i know many things.. not really many but few concepts in ACCA inventory frauded us under circumstances. I don't know where I have proven it but if you have time go through my answers..interpreting is a cake, but earning over it is the game here lol