Fatima withdraws goods from the business for personal use. the accounting treatment is to debit?

by | Dec 5 | Accounting JAMB | 0 comments

A. stock account and credit profit and loss account
B. drawings account and credit stock account
C. profit and loss account and credit drawing account
D. stock account and credit drawings account

Correct Answer:

Option B – drawings account and credit stock account

Users Also Read These:

Copyright warnings! Do not copy.

 

Earn Your Degree In 3 Years Without Writing UTME. Click Here To Learn More.