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Accountancy
Please help in bit no.(iii) and (xi) (iii) Sold his personal car for Rs 50000 and deposited in the firm's Bank Account (xi) Invested in shares
Answers (7)
Thanusha Lakshmi
iii shall be shown as capital in firms accounts xi shall be shown as drawings
What will the changes in Assets and Liabilities side in the Accounting Table on either side of Assets and Liabilities ?
CA Suraj Lakhotia Admin
iii. Increase in capital and increase in bank xi. Decrease in bank and increase in drawings.
Is Drawings an Asset A/C sir ?
Thread Starter
Ardhendu Sekhar AcharyaIs Drawings an Asset A/C sir ?
In a way yes but It is reduced from capital account balance.
