Journal entries for sales of
Atharv Sankliya (1354 Points)
27 November 2021
if a owner draw good at its half price so what is the journal entries??
4 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 27 November 2021
If he withdrawn at half price, then if presumably NRV is lower than cost
Drawings a/c
NRV loss a/c
To Inventory a/c
Atharv Sankliya
(1354 Points)
Replied 27 November 2021
What if he pay half value in cash
i mean to say that the owner withdraw a good of value 1000 rs and pay cash 500 to business so what is the journal entries for that???
i mean to say that the owner withdraw a good of value 1000 rs and pay cash 500 to business so what is the journal entries for that???
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 28 November 2021
Withdrawals a/c 500
To sales 500
To Inventory 500
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 28 November 2021
Withdrawals a/c 500
Cash 500
To inventory 1000
sorry about that. Nice weekend
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