I know that the bank should should be credited the amount withdrawn... but what's debited?
2006-11-07 14:27:49 · 4 answers · asked by born2bfree 3 in Business & Finance ➔ Personal Finance
This is for a propreitership...
How is it shown on the balance sheet? Does it go under owners equity or liabilities or no clue
2006-11-07 14:40:01 · update #1
Credit-Capital, drawing
Debit-owners equity
It goes one the income sheet under owners equity.
2006-11-08 12:30:57 · answer #1 · answered by neinmom2one 3 · 0⤊ 0⤋
If you're talking of a business then debit the Owner's withdrawals account or, if it's incorporated, the Shareholder's account.
2006-11-07 22:33:34 · answer #2 · answered by Roger K 3 · 0⤊ 0⤋
the amount in your account, whether you state checking or savings.
2006-11-07 22:30:43 · answer #3 · answered by iMaTwin 3 · 0⤊ 0⤋
personal capital
2006-11-07 22:29:48 · answer #4 · answered by Waylon R 2 · 0⤊ 0⤋