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Withdrawn cash from bank RS 4000 for office use and RS 1000 for personal use ?
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Withdrawn cash from bank RS 4000 for office use and RS 1000 for person...
Drawing a/c Dr. 50000
To cash a/c cr. 4000
To bank a/c cr. 1000

( Being cash withdrawn frm bank for personal nd office use )
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Withdrawn cash from bank RS 4000 for office use and RS 1000 for person...
Withdrawal of Cash from Bank for Office and Personal Use


When you withdraw cash from your bank account, it is important to keep track of the amount and the purpose of the withdrawal. In this case, you have withdrawn RS 4000 for office use and RS 1000 for personal use.


Withdrawal for Office Use



  • When withdrawing cash for office use, it is important to have a record of the transaction.

  • You should keep a receipt or a record of the withdrawal in your office accounting system.

  • This will help you keep track of your expenses and ensure that you are not overspending your budget.

  • You should also make sure that the cash is kept in a safe place and that it is handled responsibly.



Withdrawal for Personal Use



  • When withdrawing cash for personal use, it is important to remember that this is your own money and you can spend it as you see fit.

  • However, you should still keep track of the amount and make sure that you are not overspending your budget.

  • You should also make sure that the cash is kept in a safe place and that you are not at risk of losing it.

  • Lastly, you should not mix your personal and business expenses, as this can complicate your accounting and cause issues with the tax authorities.



Conclusion


Overall, when withdrawing cash from a bank account, it is important to keep track of the amount and the purpose of the withdrawal. This will help you keep your finances in order and ensure that you are not overspending your budget. Whether you are withdrawing cash for office use or personal use, it is important to handle the cash responsibly and keep it in a safe place.
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Read the following hypothetical Case Study and answer the given questions:The cash book of Ramesh showed the cash balance of ₹15,000 and a bank balance of ₹25,000 as on 30th April 2019. On the 1st of May, he purchased goods from Ramesh worth ₹12,000 and paid it by cheque. He sold goods on 3rd of May for cash and deposited the proceeds into a bank worth ₹10,000. On the 14th of May, he paid the electricity bill by cheque worth ₹9,000. On the 15th of May from Rashi, he purchased goods worth ₹10,000 at a discount of 20% and sold it to Juhi at a profit of 25%. Both the transactions were on credit. On the 26th of May, he withdrew ₹5,000 for office use. On 29th May, he received 70% of the cash from Juhi and paid 50% of it to Rashi and deposited the remaining in the bank. He also paid ₹1,500 as salaries to his employee on 31st of May. He also had the following transactions:• He received a telephone bill worth ₹500.• He withdrew ₹2,500 for his personal use.• He gave ₹500 from for the cash register to his nephew as a gift.• Goods worth ₹2,000 were lost due to damagesThe transaction where he gave cash to his nephew will be recorded as ___________ in the Cash column of the Cash Book.

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Withdrawn cash from bank RS 4000 for office use and RS 1000 for personal use ?
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Withdrawn cash from bank RS 4000 for office use and RS 1000 for personal use ? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Withdrawn cash from bank RS 4000 for office use and RS 1000 for personal use ? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Withdrawn cash from bank RS 4000 for office use and RS 1000 for personal use ?.
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