--%>
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 : Short Term Solvency Ratio Define the

    Define the term Short Term Solvency Ratio?

    		•
  • Q : Evaluate the impact of a recent

    A 2000 word essay (maximum allowed 2,200) Accessing Learning Outcomes: Knowledge 1 and 2 Skills 1, 2, 3 and 5                 "Evaluate the impact of a recent healthcare initiative on nursing practice".<

    		•
  • Q : Ppe Question 3 The following

    Question 3 The following information is taken from the financi al statements of an entity: 20x6 20x5 Property, plant and equipment $4,100,000 $3,600,000 Accumulated depreciation (1,400,000) (1,050,000) Depreciation expense 650,000 Gain on disposal of PPE 35,000 The asset disposed of had

    		•
  • Q : Brokering Creativity Explain the term

    Explain the term Brokering Creativity in Creative industry ?  

    		•
  • Q : Define Budgetary Control Give a brief

    Give a brief introduction of the term ‘Budgetary Control’ also writes down its characteristics?

    		•
  • Q : Accounting and Financial Management

    Part A During 2012 the Australian Company Woolworths Ltd (WOW) sold its subsidiary business called Dick Smith Electronics. Within 8 months of the FOR SALE sign going up Anchorage bought the Dick Smith Business for $20 million. This is the same amount Woolworths Ltd bought

    		•
  • 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 : Maintaining the fixed exchange rate

    Explain why “Once  the capital markets are integrated, it becomes difficult for the country in order to maintain the fixed exchange rate”. 

    		•
  • Q : Internalization theory of FDI Explain

    Explain internalization theory of the FDI. Specify the strength and weakness of this theory?

    		•
  • Q : Small talk Define small talk and

    Define small talk and discuss its role in developing the relationship.

    		•