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-   -   Accounting test (https://www.askmehelpdesk.com/showthread.php?t=240593)

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

    dr. drawing, owner... xxx
    Cr. Cash... xxx

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