--%>
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 : Case study of a pharmaceutical group in

    The XYZ Group, a supplier of pharmaceutical equipment, systems and services, has its head office in London and primary production facilities in the US. The company also has a successful subsidiary in South Africa, which was established in 1990. XYZ South Africa does n

    		•
  • Q : Define the term Assets Define the term

    Define the term Assets in Accounting?

    		•
  • Q : Money market Simply define and

    Simply define and illustrate the Money market?

    		•
  • Q : Asset Owned by an entity, something

      Owned by an entity, something that provides benefits and whose cost can be measured. The measure of the value of assets in dollar appears on the

    		•
  • Q : Define the term Debtor Define the term

    Define the term Debtor. Is they our client?

    		•
  • Q : Causes of current account deficits

    United States has experienced constant current account deficits since early 1980s. List some of the major causes of the deficits? What could be the consequences of these constant U.S. current account deficits?

    		•
  • Q : Trading A CD/$ bank trader is presently

    A CD/$ bank trader is presently quoting a small figure bid-ask of 35-40, while rest of the market is trading at the CD1.3436-CD1.3441.  Specify what all is implied about trader’s beliefs by his prices?

    		•
  • Q : Account A structure for showing the

    A structure for showing the effect of market events on a particular asset, liability, equity, earnings, or expense. The effects are measured in terms of dollars. The account looks like as a collection point in the meanwhile the processing of all the transactions involving the balance sheet or inc

    		•
  • Q : Maintaining multiple manufacturing

    Write down disadvantages and advantages of maintaining the multiple manufacturing sites as the hedge against exchange rate exposure.

    		•
  • Q : Advent of euro affecting international

    Explain how the advent of euro would affect the strategies of international diversification.

    		•