A

Admin • 802.91K Points
Coach

Q. If goods worth ₹5,000 are taken by the proprietor for personal use, the journal entry is:

  • (A) Drawings A/c Dr. ₹5,000 To Purchases A/c ₹5,000
  • (B) Capital A/c Dr. ₹5,000 To Cash A/c ₹5,000
  • (C) Purchases A/c Dr. ₹5,000 To Drawings A/c ₹5,000
  • (D) Cash A/c Dr. ₹5,000 To Drawings A/c ₹5,000
  • Correct Answer - Option(A)
  • Views: 4
  • Filed under category Accounting
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Explanation by: Admin
Drawings A/c is debited and Purchases A/c is credited when goods are withdrawn by owner.

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