The Concept of Drawings is with draw cash from capital to perform Drawing’s operations.
We have to create Drawings Ledger under Capital A/c.
We have to create Drawings Ledger under Capital A/c.
Drawing (F5) = By- cash
To – drawing.
Return Drawings (F6) = By - Cash
To – Drawing.
Drawings are classified in to mainly 2 options
1. Interest on drawing
2. Interest on capital
1. Interest on drawing:-
Ledger:- Interest on drawing - Indirect income
Using F7 Function key
F7 = By – name
To –interest on drawings
2. Interest on capital:-
Ledger:- Interest on capital - Indirect expenses
Using F7 Function key
F7 = By – interest on capital
To – name.
Problem 1
1. Mr.Sampanth Started a new Business with 5,00,000/-
2. Cash Deposited into HDFC Bank 1,00,000/-
3. Bike Purchased 70,000/-
4. He Draw 1,00,000/- Amount for Personal Use.
5. He Return After 6 Months - Monthly Interest is 4,000/-
6. Cash With Draw from HDFC Bank 50,000/-
7. Salary Paid through bank 12,000/-
8. Donation Received 24,000/-
9. Petty Income 8,500/-
10.Company Paid Interest on Capital to Mr.Sampanth 10,500/-
Problem 2
1. Miss. Jansi Started a new Business with 8,00,000/-
2. Cash Deposited into SBI Bank 2,50,000/-
3. Scooter Purchased 70,000/-
4. She Draw 3,20,000/- Amount for Personal Use.
5. She Return After 10 Months - Monthly Interest is 8,200/-
6. Cash With Draw from SBI Bank 1,75,000/-
7. Power bill Paid through bank 2,350/-
8. Commission Received 38,500/-
9. Internet bill Paid 9,00/-
10.Company Paid Interest on Capital to Miss. Jansi 23,700/-
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Answer
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