Difference between revisions of "Owner's Withdrawals"

Revision as of 13:25, 15 December 2018

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.

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

Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.

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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 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)‎]],
-:[[Owner's Withdrawals]].
+:[[Withdrawals]]. A subdivision of [[owner's equity]] that records money or other assets an owner withdraws from a business for personal use.
 ==Related concepts==