--%>

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 : Uncertainty in dollar/franc exchange

    Suppose that your company has an equity position within the French firm. Explain some of the condition under which the dollar/franc exchange rate uncertainty does not have the exchange exposure for your company.

  • Q : Cause why relationships tend to come

    Identify and briefly explain the patterns in terms of how relationships tend to come apart (not together) or deteriorate. Use a real or hypothetical illustration to describe each of such phases.

  • Q : Applications of Matlab in Embedded

    Do you face difficulty with embedded system problems using matlab? Do you require help in embedded system assignment and project? We have team of tutors who are highly qualified and practiced in embedded system using matlab. They have vast industrial knowledge of matlab. W

  • Q : Equity and social exchange theory What

    What is the difference between the equity theory and the social exchange theory ? Define both the theories in brief.

  • Q : Difference among personal or real

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

  • Q : Restrictions of foreign equity ownership

    Describe various restrictions of foreign equity ownership.  Why countries impose these restrictions, explain your view on this?

  • Q : Great Society programs What are the

    What are the goals of “Great Society” programs?

  • Q : Analysis of cash flow statement What do

    What do you mean by the term Analysis of cash flow statement?

  • Q : Imports and exports of U.S Give some

    Give some remark over the given statement: “As imports of the U.S. is more than its exports, it is essential for U.S. to import the capital from foreign countries in order to finance its current account deficits.”

  • Q : Foreign subsidiary- financial structure

    State some of the conditions under which the foreign subsidiary’s financial structure become relevant?