Solve
Guides
You visited us 0 times! Enjoying our articles? Unlock Full Access!
A Purchases B Sales D Capital.
Open in App
Solution
Verified by Toppr
Drawings is the money that is withdrawn by the owner for personal use and is an asset for the company. Capital is money brought by the owner in the business and is liability for the company. Drawings are deducted from the capital to reduce the liability of the company and not shown on the assets side.
Was this answer helpful?
3
Similar Questions
Q
2
Return outwards are deducted from __________.
View Solution
Q
3
Amount of discount deducted from invoice price is called a __________.
View Solution
Q
4
Return outwards appearing in Trial Balance are deducted from ______________.
View Solution
Q
5
Return Inwards appearing in Trial Balance are deducted from:
View Solution
