Use this accounting resource to improve your accounting knowledge and bookkeeping understanding. All of these accounting terms have been reviewed and are written so they can be understood for a wide range of accountants, bookkeeppers, cpas professionals.
Please pick a letter to proceed to the terms associated with that letter.
|A drawing account is the amount of cash drawn out by a sole proprietorship and by partners of a partnership,. The drawing amount reduces capital in a sole proprietorship and a partnership. It is nontaxable for income tax purposes.|