Withdrawal of goods from stock by the owner of the business for personal use should be recorded by
A) Debiting Stock Account and crediting Capital Account
B) Debiting Capital Account and crediting Drawings Account
C) Debiting Drawings Account and Crediting Stock Account
D) Debiting Stock Account and Crediting Drawings Account
Correct Answer:
Verified
Q1: When Fixed Assets are sold
A)The Total Assets
Q3: Withdrawals by proprietor would
A)Reduce both Assets and
Q4: Which of the following is true?
A)The payment
Q5: Which of the following statements is/are true?
(i)
Q6: Trade discount allowed at the time of
Q7: The Periodical total of the Sales Return
Q8: If the Petty Cash fund is not
Q9: XYZ Ltd. Paid wages of ` 8,000
Q10: Purchase of goods on credit
A)Increases Liabilities
B)Increases Assets
C)Increases
Q11: Which of the following is not an
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