Goods taken by proprietor is credited to?

Question

a) Expense A/c

b) Purchases A/c

c) Capital A/c

d) None of these

Muhammad Sabith · Answer

agree with the experts answer .........

Mohamed Hakeem Meerashahib · Answer

Md. Omar Faruq · Answer

If Goods taken by proprietor is credited to Purchase A/C. So the answer is option-B.

Golam Mahiuddin Mahiuddin · Answer

B(Purchases A/c credit.), it is one kind of drawings.

Modassir Meraj · Answer

in accounting if owner or proprietor withdraw so we credited in capital

c) Capital A/c

Mohammed Thoufique Thoufi · Answer

It is considered ad drawings of proprietor. Trading account or stock drawing account is to be credit. Entry will be

drawings account dr

TO Trading/stock drawing a/c

Santosh Kumar Arukh · Answer

If any Good taken by proprietor then the " Actual cost of the Goods" will be Credited to ans: b) Purchase A/c.

The reason is the same value cost from purchase item or stock value will be reduced by passing following entries:

Capital / Drawings A/c Dr.

Purchase/ Goods/ Items A/c. Cr.