Question
Scott is the sole proprietor of an auto repair business and periodically withdraws from his business account for personal use. How should Scott's bookkeeper label
Scott is the sole proprietor of an auto repair business and periodically withdraws from his business account for personal use. How should Scott's bookkeeper label the account in which these withdrawals are recorded?
a) My money
b) Owner's pay
c) Payroll account for the owner
d) Owner's drawing account
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
