Value of goods withdrawn by the proprietor for his personal use should be credited to ____.
A) Capital A/c
B) Sales A/c
C) Drawings A/c
D) Purchases A/c
Correct Answer:
Verified
Q37: Anticipate no profits and provide for all
Q38: Accounting procedures and accounting practices should remain
Q39: An ink-stand has been purchased by a
Q40: When a machinery is purchased for cash,
Q41: Rules of revenue recognition determine that earning
Q43: M/s Stationery Mart will debit the purchase
Q44: Goods distributed as free samples is debited
Q45: Journal entry for wages paid Rs. 5,000
Q46: Interest of Drawings is:
A)Expenditure for the business
B)Expense
Q47: Drawings account is the nature of
A)Personal Account
B)Real
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