--%>
Assignment Help - homework help

Meaning of drawing

What is the meaning of drawing in financial accounting?

E

Expert

Verified

We employ drawing numerous times in financial accounting. Drawing here means any amount withdraws from business for personal utilization. Not only cash however when we withdraw any product from business or any asset of business for personal utilization which will be drawing. This surely decreases the capital of any business. Therefore business man should record drawing in his books and hence accountant can compute accurate gain or loss of business man.

   Related Questions in Financial Accounting

  • Q : Computing the credit rating List some

    List some of the factors does Standard & Poor’s analyzes in computing the credit rating it assigns a sovereign government?

    		•
  • Q : Advantages and disadvantages of gold

    Write the advantages and disadvantages of the gold standard.

    		•
  • Q : Darwin and Moths Conduct an internet

    Conduct an internet search by using the terms Darwin and Moths ("Darwin Moths", without the quotes). Learn about this famous illustration of Darwin's theory of natural selection, and write a brief paragraph describing it.

    		•
  • Q : Define Budget Manual Give a short

    Give a short introduction of the term ‘Budget Manual’?

    		•
  • Q : What is Wasting Assets What is Wasting

    What is Wasting Assets. State briefly in terms of Accountancy?

    		•
  • Q : Meaning of Goodwill Meaning of Goodwill

    Meaning of Goodwill: Goodwill puts the association at a good position due to which the organization is capable to earn huge profits without any additional efforts. Goodwill can’t be seen although felt. Thus goodwill is termed as an Intangible as

    		•
  • Q : Advanced Accounting-Consolidated

    I have worked the problem. I need to know if it is correct. If not, what I'm missing.

    		•
  • Q : Who is a debtor Who is a debtor ?

    Who is a debtor? Briefly explain the term.

    		•
  • Q : Define Margin Improvement Margin

    Margin Improvement: Margins in the business remained beneath pressure, even previous to the economic downturn for the industry as an entire, returns on capital have continued under the cost of capital. Previous to the falls in the second half of the y

    		•
  • Q : Accountant & Financial In Business

    Questions 1. Identify the services or programs to be included in the cost and profitability analysis. 2. Examine the costs listed in Table 2. a. Identify the direct costs associated with each service or program. b. Which costs would be organization

    		•