The company owner took $5,000 cash for personal use. What is the entry for this transaction? a.
Question:
The company owner took $5,000 cash for personal use. What is the entry for this transaction?
a. Debit Cash and credit Caleb Parker, Capital
b. Debit Cash and credit Caleb Parker, Drawing
c. Debit Caleb Parker, Drawing and credit Cash
d. Debit Caleb Parker, Capital and credit Cash
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
d Debit Caleb Parker Capital and credit Cash The entry for ...View the full answer
Answered By
Kenneth Mutia
I have a B.S. in Statistics from the Jomo Kenyatta University of Agriculture and technology. I have been an academic tutor for over 3 years. I have a passion for helping students reach their full potential and am dedicated to helping them succeed. I am patient and adaptable, and I have experience working with students of all ages and abilities, from elementary school to college in their various fields. I have a wide scope of diverse tutoring experience in several courses of study with significant success as a tutor.
0 Reviews
10+ Question Solved
Related Book For 
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
