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Withdraw cash from bank for personal use - pass journal entry?

Name :: Hareesha E

Your Country :: india

Question Title: :: journal entry


Explain your question in detail ::

Withdraw cash from bank for personal use pass journal entry

Category :: Teaching

Answer :: 

Drawing / Capital Account Debit

Bank Account Credit

Logic : There is decrease in the capital which is the liability of business for business owner. So, it will debit. Our bank account is the current asset, it is also decreased due to this transaction. So, bank account will credit.


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Accounting ! Answers: Withdraw cash from bank for personal use - pass journal entry?
Withdraw cash from bank for personal use - pass journal entry?
Accounting ! Answers
http://wiki.svtuition.org/2015/09/withdraw-cash-from-bank-for-personal.html
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