Drawings by a sole proprietor (including VAT implications)
ID:CVDRWI
Video Overview
This tutorial will guide you through the process of recording drawings by a sole proprietor, including the VAT implications of this. Now and then, an owner of a business will take inventory for personal use, or may take cash or assets for his own use, so it is important to understand the way in which these transactions need to be recorded, the journal that the entries will be made in, and how this affects the accounts in the general ledger.
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