01-09-2005, 03:19 AM
Every account is treated in different ways in accounting.
Mostly rules of Income, Expense, Asset and Liability are followed.
I have discussed many of my teachers about the nature of drawings account but no one of them could clear my confusion.
I think it is a Liability and handled by following all the rules of a liability account.
I think many of you would know better about it.
I will also explaine why I consider it as a Liability if your views are different.
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
http//www.shahid-fss.tk
Mostly rules of Income, Expense, Asset and Liability are followed.
I have discussed many of my teachers about the nature of drawings account but no one of them could clear my confusion.
I think it is a Liability and handled by following all the rules of a liability account.
I think many of you would know better about it.
I will also explaine why I consider it as a Liability if your views are different.
```*``` I love stars;
*`*`*`* Shining;
`*`*`*` and Smiling;
*`````* Always.
http//www.shahid-fss.tk
