Owner's Withdrawals

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Owner's Withdrawals (alternatively known as owner's drawings, drawings, or, simply, withdrawals; hereinafter, the Withdrawals) is a subdivision of owner's equity that records money or other assets an owner withdraws from his, her, or its organization for personal use.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Withdrawals. A subdivision of owner's equity that records money or other assets an owner withdraws from a business for personal use.

Related concepts

Related coursework