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March 30, 2026, 02:05:00 pm
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Author Topic: Accounting- Drawings  (Read 903 times)  Share 

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Jazz_Blue

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Accounting- Drawings
« on: May 28, 2012, 11:05:51 pm »
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Anyone knows why drawings are sometimes recorded in the drawings column but sometimes in the sundries column? ( Cash Payment Journal)
Thanks in advance.
 :)
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BoredSatan

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Re: Accounting- Drawings
« Reply #1 on: May 29, 2012, 12:51:05 am »
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It depends whether the business has a drawings column or not.. IN OTHER WORDS.. It depends whether VCAA will give you the drawings column or not.. if they do put it there.. if not, put in sundries
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Master of Dentistry, Latrobe University 2011 ATAR: 99.75
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Jazz_Blue

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Re: Accounting- Drawings
« Reply #2 on: May 29, 2012, 02:41:19 am »
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hmm.. I came across a question in which there is a drawings column already in the cash payment journal, but there is also another transaction of  drawings  which involved cash,  recorded in the sundries column. What does this mean? @@
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Tragesty

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Re: Accounting- Drawings
« Reply #3 on: May 29, 2012, 03:33:38 pm »
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If you came across this in the Cambridge book, I recall there being an error and the 'Drawings' title (and the amount at the bottom) was for Stock Control (aka purchase of stock).

Otherwise, error - it would either be recorded in the Sundries column as drawings, or in the drawings column - can't have the 2 (especially different amounts).
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Jazz_Blue

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Re: Accounting- Drawings
« Reply #4 on: May 30, 2012, 12:45:59 am »
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Yeap, I am currently using the Cambridge book. Thanks so much!! :D
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