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Owner of the company withdrew $700 cash for personal use what accounts would i have to record down?

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Question added by melissa chaplin
Date Posted: 2015/10/10
Salman Daud
by Salman Daud , Chief Accountant , Cool Inc

Debit: Drawings Account 

Credit: Cash Account

 

Liezel Mejia
by Liezel Mejia , Accounting Supervisor , Universal Robina Corporation

(Dr.) Accounts Receivable or Advances  $

(Cr.) Cash                                                      $

Owners Equity

deduct$ from owners equity 

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

equity will be debt and cash will be credit

thank you

 

dont have to mention in any accounts..

 

Hossam Mohamed
by Hossam Mohamed , Chief Accountant , Bonne Maniere Catering

ownership current account will be debit and cash will be credit 

Md. Momen Al Islam
by Md. Momen Al Islam , Finance Executive , ACI Limited

Drawings Dr  and Cash Cr by

sameer puthukolli nayarveetil house
by sameer puthukolli nayarveetil house , Acoountant , Batterjee Cosmetics Factory

Debit should be drawing account

credit shoub be cash account

Muhammad Imran
by Muhammad Imran , Account Officer , Akhuwat Micro Finance

Debit:Drawings A/C $

       Credit: Cash A/C $

khalil abulawi
by khalil abulawi , Finance Manager-ACPA , Saudi Kad Contracting Company

DR current account (owner)   xx

       CR cash inbox                    xx

JULIUS MURE MWARO
by JULIUS MURE MWARO , ACCOUNTANT , said abeid said & co.

DEBIT: Drawings a/c

CREDIT: cash a/c

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