--%>
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 : Comprehensive Problem in Accounting

    Accounting Comprehensive Problem The case involves one accounting cycle (regular journal entries, adjusting journal entries, preparing financial statements,

    		•
  • Q : Cash flows from operating activities A

    A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities

    		•
  • Q : Policy issued by upper management What

    What would you do when upper management issues a new policy and it was problematic to you? Would you pursue the new policy?

    		•
  • Q : Deposit-loan rate spread in Eurodollar

    Explain, how does deposit-loan rate spread within the Eurodollar market as compared to the deposit-loan rate spread in domestic U.S. banking system and why?

    		•
  • 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 : Investment in Value trust What is your

    What is your recommendation concerning investment with/in the Value Trust? a.  Why do you recommend? b.  Why don’t you recommend?

    		•
  • Q : Finalization of Accounts What does the

    What does the term Finalization of Accounts mean?

    		•
  • Q : Political events affecting the local

    Discuss about the different ways in which the political events in the host country affects the local operations of MNC.

    		•
  • Q : Matlab Applications in Digital Signal

    Digital signal processing appears like a nightmare for students as it is most difficult and tricky subject in engineering core curriculum. If you are getting troubles in digital signal processing assignment or related project, then move

    		•
  • Q : Workings and nature of the financial

    Assume that you are really interested in investing in the shares of Nokia Corporation of Finland that is a world leader in the wireless communication. However, before making the investment decision, you might like to learn about company. Take a look of the website of

    		•