INTERVIEW QUESTIONS ACCOUNTING PROCESS CASH BOOKS DETAILS

Question: What will be the journal entry when cash is withdrawn from bank for personal use? a) Drawings A/c Dr., Bank A/c Cr. b) Cash A/c Dr., Bank A/c Cr. c) Bank A/c Dr., Drawings A/c Cr. d) Bank A/c Dr., Capital A/c Cr.

Answer: (a) Drawings A/c Dr.
To Bank A/c
Description: Cash or goods withdrawn by the proprietor for personal use is termed as drawings. The following journal entry should be passed:-
Drawings A/c Dr.
To Bank A/c
( Being cash withdrawn from bank for personal use.)

(a) Drawings A/c Dr.
To Bank A/c
Description: Cash or goods withdrawn by the proprietor for personal use is termed as drawings. The following journal entry should be passed:-
Drawings A/c Dr.
To Bank A/c
( Being cash withdrawn from bank for personal use.) Source: CoolInterview.com

If you have the better answer, then send it to us. We will display your answer after the approval.

Rules to Post Answers in CoolInterview.com:-

• There should not be any Spelling Mistakes.
• There should not be any Gramatical Errors.
• Answers must not contain any bad words.
• Answers should not be the repeat of same answer, already approved.
• Answer should be complete in itself.

Name :*
Email Id :*
Answer :*
Verification Code	Not readable? Load New Code
Enter the above shown code: *
	Inform me about updated answers to this question