What is the normal balance for the owners withdrawals account?

1 answer

Answer

1018460

2026-03-26 03:35

+ Follow

The normal balance for the owners' withdrawals account, also known as the owner's drawing account, is a debit balance. This account is used to track amounts taken out of the business by the owner for personal use, which reduces the owner's equity in the business. Therefore, increases in the withdrawals account are recorded as debits, while decreases are recorded as credits.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.