1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stich3 [128]
1 year ago
15

If the owner of business withdrawals money for personal use but in performing a bank reconciliation determines that she had negl

ected to record the withdrawal what accounting entry would be necessary?
Business
1 answer:
s2008m [1.1K]1 year ago
4 0

Debit withdrawals; credit cash is the correct answer.

<h3>What are drawings in accounting?</h3>
  • A drawing bank is not in and of itself a bank account.
  • Drawing in accounts are the records kept by a company owner or auditor that show how much cash has been taken by business owners.
  • These are transfers made for personal use rather than for the profit of the business, yet they are governed in a way that employee earnings are not.
  • Because these transfers must be offset against the owner's equity, accurate records must be maintained.
  • A separate drawings directly deals with it simpler to keep track of these actions and balance the books at the conclusion of every fiscal year when you need to know how to end your drawings account.

learn more about drawing account refer:

brainly.com/question/28137060

#SPJ4

You might be interested in
MC Qu. 17 Tower Company planned to produce 3,000 units... Tower Company planned to produce 3,000 units of its single product, Ti
zmey [24]

Answer:

From the list of options, Option A is the only correct one:

"the actual usage of materials was less than the standard allowed".

Explanation:

<em>Material usage variance</em>

A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite.

<em>Material price variance</em>

A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite.

From the list of options, Option A is the only correct one

3 0
3 years ago
A and B have agreed that A will befriend C in order to make C popular in exchange for B's payment of $500 to A. Is this a valid
fiasKO [112]
Yes? There really isn’t slot of info
3 0
4 years ago
Why is it important to research several careers rather than just one
vampirchik [111]
It is important to research several careers rather than just one because, then you could know which career is most likely better for you to work for, and which one would fit you, and if you are comfortable in doing that career.
6 0
4 years ago
The minimum expected rate of return of the management from any project is referred to as the:A)The hurdle rate. B)The internal r
Sunny_sXe [5.5K]

Answer:

B

Explanation:

The Internal Rate of Return (IRR) is the profitability or the ability to generate revenues of the money that remains invested during the life of a proyect. It is also known as the discount rate or cost rate that makes the Net Present Value (NPV) equal to cero. When the NPV is greater than cero, then the proyect creates value ( it is attractive to investors) if it is less than cero, then the proyect destroys value and investors are going to loose money. If the NPV is equal to cero, then investors  recover their investment but they do not obtain gains nor losses. The minimum rate of return is the one in which at least investors obtain the same amount ( in present value) of their investment; that is the internal rate of return (IRR).

6 0
3 years ago
PLEASE ANSWER SOON WILL GIVE BRAINLIEST
oksian1 [2.3K]
The answer to that is gonna be answer B
8 0
3 years ago
Other questions:
  • In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial acco
    6·1 answer
  • Bonds Payable. select between a.increase and decrease select between increase and decrease select between credit and debit b. Un
    15·1 answer
  • The marginal social benefit received from pollution is equal to its marginal social cost in the market for highly polished glass
    8·2 answers
  • A new purchasing system for just-in-time production requirements has been proposed. Users want access to current master file inf
    9·1 answer
  • Jake retired from the police force. He started working an hour or two a day at a paid job in city's courthouse. Jake is A) emplo
    15·1 answer
  • On July 1, Year 1, Howe Corp. issued 300 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, year
    5·1 answer
  • A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 35%, while stock B has a standard
    9·1 answer
  • Describe five features of economic resources​
    13·1 answer
  • Navi-devices Inc., a manufacturer of portable navigation devices, provides free traffic updates and identifies the nearest parki
    9·1 answer
  • Every time a company hires a new employee and trains them to take on the new role, what kind of risk are they
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!