--%>
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 : Firm cross-listed on foreign stock

    Explain why and how a firm’s capital cost can be reduced when stock of firm is cross-listed on foreign stock exchanges.

    		•
  • Q : Maximum factors Explain the Maximum

    Explain the Maximum factors influences and involvement which will depend on the performance and success of the employees ?

    		•
  • Q : Difference among personal or real

    What is the difference among personal or real account and nominal account?

    		•
  • Q : Financial hedging of firm’s operating

    List disadvantages and advantages of the financial hedging of firm’s operating exposure through the operational hedges (like relocating the manufacturing site)?

    		•
  • Q : Trends in international business

    Explain three important trends which have prevailed in the international business during last two decades.

    		•
  • 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 : Define Financial Accounting Give a

    Give a brief introduction of the term ‘Financial Accounting’. And also write down its elements?

    		•
  • Q : International bonds Explain why most of

    Explain why most of the international bonds have high Moody’s or Standard & Poor’s credit ratings?

    		•
  • Q : Case study of harvesting a tree

    Recently, a friend accused her neighbor of harvesting a tree (sapling of balsam fir, Abies balsamea) from her land without permission. Her neighbor claims that he bought it from a Christmas tree plantation (growing in a clearing down the road).  Your friend says

    		•
  • Q : Balance per bank What does Balance per

    What does Balance per bank signify?

    		•