India What will be the journal entry?

[saurabhpedia]

What will be journal entry of the following ==> Owner pay from personal credit card ₹1000 for travel expense. Then withdraw money ₹1000 from company bank account via bank xfr to his personal account?

 

[AGH the CPA]

Owner needs to submit expense report for travel. Entry to account for wire transfer should be

DR travel expense accounts (usually broken out by hotel, air, care rental, meals etc)
CR bank (for wire)

 

[saurabhpedia]

Owner needs to submit expense report for travel. Entry to account for wire transfer should be

DR travel expense accounts (usually broken out by hotel, air, care rental, meals etc)
CR bank (for wire)

But what in case if expense are made but doesn't claim by owner it must be there as capital liability

 

[Fidget]

No, it's still revenue expenditure.