Accounting




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accounting exams









General Accounting Discussions: I need to be sure that my answer is correct ....

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    • CommentAuthoraga
    • CommentTimeFeb 22nd 2007
     
    if the owner of a business draws some stock for his own private use , the bookkeeper should record this by:
    my answer is - debiting capital account , crediting stoc account...
    am I right?
    Thankful People: MIke
    • CommentAuthordkbook
    • CommentTimeMar 2nd 2007
     
    Yes, Debit to a Drawings account (Capital) Credit stock (Asset)
    Thankful People: narayanswamy

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