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In a business, if the owner withdraw goods from the business, what will be the journal entry in tally software?

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Question added by Mohammed Azeem , Accountant , Saj Traders
Date Posted: 2014/06/12
Deleted user
by Deleted user

Dr. current account /Owner

Cr. cerdit sales

Phani Kumar
by Phani Kumar , fresher , genpact

DRAWINGS A/C Dr

        TO PURCHAGES A/C

(BEEING GOODS PURCHAESD )

Faisal Anichavalappil
by Faisal Anichavalappil , Article Assistant , Vinay and Keshava Chartered Accountants

Drawing A/c... Dr

     To Purchase A/c 

          or

Drawings A/c....Dr

     To Closing Stock 

 

Both Net Effect is Same , but most Aprpropriate entry is first.

Arup Dutta
by Arup Dutta , Senior Executive Controlling , Wacker Metroark Chemicals Private Limited

Drawings A/C Dr.

To Closing Stock.

 

 

Profit and Loss A/C Dr.

To  Drawings

 

 

Deleted user
by Deleted user

Drawing a/c dr

To purchases

Divya Shetty
by Divya Shetty , General Accountant , Swipezoom General Trading LLC

Drawing or stock drawing a/c or owners current a/c DR.

                    TO trading a/c 

 

Maitham Sabt
by Maitham Sabt , Accounting Manager , Gulf Biotech

DR          Owners current account 

CR                    stock 

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