sandiv4 sandiv4
  • 17-03-2019
  • Business
contestada

Is drawing in business a current asset

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MrsSeifried MrsSeifried
  • 17-03-2019

The correct answer is No.

Drawing is considered a contra-capital account. It is not included in the asset sections of the financial statements, even though it has a debit balance. It is used to offset the capital account because it is money that the owner has withdrawn from the company.

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Amna23
Amna23 Amna23
  • 17-03-2019
No it’s not, hope this was helpful:)
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