Difference between revisions of "Owner's Withdrawals"
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[[Owner's Withdrawals]] (alternatively known as [[owner's drawings]], [[drawings]], or, simply, [[withdrawals]]; hereinafter, the ''Withdrawals'') is the [[financial account]] that records money or other assets an owner withdraws from a business for personal use. The ''Withdrawals'' is an [[adjusting account]] for [[Owner's Capital]] and a subdivision of [[owner's equity]]. | [[Owner's Withdrawals]] (alternatively known as [[owner's drawings]], [[drawings]], or, simply, [[withdrawals]]; hereinafter, the ''Withdrawals'') is the [[financial account]] that records money or other assets an owner withdraws from a business for personal use. The ''Withdrawals'' is an [[adjusting account]] for [[Owner's Capital]] and a subdivision of [[owner's equity]]. | ||
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| + | ==Definitions== | ||
| + | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| + | :[[Owner's Withdrawals]]. | ||
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| + | ==Related concepts== | ||
| + | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | ||
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| + | ==Related coursework== | ||
| + | *[[Bookkeeping Quarter]]. | ||
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| + | [[Category: Septem Artes Administrativi]][[Category: Articles]] | ||
Revision as of 11:54, 15 December 2018
Owner's Withdrawals (alternatively known as owner's drawings, drawings, or, simply, withdrawals; hereinafter, the Withdrawals) is the financial account that records money or other assets an owner withdraws from a business for personal use. The Withdrawals is an adjusting account for Owner's Capital and a subdivision of owner's equity.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
