Withdrawals of cash by a proprietor for personal use shall be debited to ___.

Cash Account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Drawings Account

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Capital Account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Drawings Account

Cash is withdrawn for personal use, therefore drawings account should be debited.

Suggest Corrections

Similar questions

Withdrawals of cash from bank by the proprietor for his personal use should be debited to ?

Rectify the following errors:

(a)	Salary paid Rs 5,000 was debited to employee’s personal account.
(b)	Rent Paid Rs 4,000 was posted to landlord’s personal account.
(c)	Goods withdrawn by proprietor for personal use Rs 1,000 were debited to sundry expenses account.
(d)	Cash received from Kohli Rs 2,000 was posted to Kapur’s account.
(e)	Cash paid to Babu Rs 1,500 was posted to Sabu’s account.

Suppose A withdraw Rs 10,000 in cash from business for personal use. Which account shall be credited in this case?

Ananya withdrew Rs. 2,000 per month for personal use, recording each transaction as a debit to her drawing account and a credit to her cash account. The journal entry closing the drawing account requires a credit to _______ account & debit to _______ account.

Withdrawals of cash from bank by the proprietor for office use should be debited to ?

Join BYJU'S Learning Program

Withdrawals of cash by a proprietor for personal use shall be debited to ___.

The correct option is B Drawings Account Cash is withdrawn for personal use, therefore drawings account should be debited.

The correct option is B
Drawings Account

Cash is withdrawn for personal use, therefore drawings account should be debited.