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+--- Thread: Entring Owner's Drawing vs. Cash Account Entry (/Thread-Entring-Owner-s-Drawing-vs-Cash-Account-Entry)
Entring Owner's Drawing vs. Cash Account Entry - Kephrem1 - 04-18-2013
Are we entering the information below in a general journal because owner's drawing decreases Equity/Capital there to decrease this you Dr?
You Cr cash because the drawing decreases the cash for the business which can be accomplished by Cr the cash account?
Is my logic sound?
Owner's Drawing Dr 1,000
Cash Cr 1,000
Entring Owner's Drawing vs. Cash Account Entry - amilitab4k9 - 04-19-2013
Sounds like you've got it figured out. What class are you taking?