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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                                                      $

Deleted user
by Deleted user

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

 

Deleted user
by Deleted user

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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