3 years ago

Is drawing in business a current asset

Business

2 answers:

Veronika [31]3 years ago

7 0

No it’s not, hope this was helpful:)

Stella [2.4K]3 years ago

6 0

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 It is used to offset the capital account because it is money that the owner has withdrawn from the company.

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