View Full Version : Accounting test
vivekananda
Jul 22, 2008, 08:46 PM
If the owner of a company withdraw money from company account, will it be recorded in accoun?
vivekananda
Jul 22, 2008, 08:47 PM
If the owner of a company withdraw money from company account, will it be recorded in account
stuckinmath
Jul 23, 2008, 07:22 AM
Yes it would be recorded as owner drawing
carine2010
Jul 27, 2008, 09:37 AM
You will debit drawings account and credit cash account since the withdrawal from the owner reduces the company's cash.
949
Jul 27, 2008, 06:32 PM
Yes it is recorded.
dr. drawing, owner... xxx
Cr. Cash... xxx