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Rahul, the proprietor of M/s R.K. …

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Rahul, the proprietor of M/s R.K. & Co. purchased an air-conditioner and installed it at his residence. The payment was made by issuing a cheque from the account of M/s R.K. & Co. The accountant debited the drawings account with the amount whereas Rahul is of the view that it should be debited to the Fixed assets. In your view, who is correct and why?

Posted by Raj Bakaria 5 years, 7 months ago

CBSE > Class 11 > Accountancy

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