What is an owner's draw?
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40more
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Works at the International Seabed Authority, Lives in Kingston, Jamaica.
Owner's draws are withdrawals of a sole proprietorship's cash or other assets for the personal use of the owner. ... The owner's draws are not reported as expenses on the income statement of the sole proprietorship. Rather, the owner's draws are considered to be a direct reduction of the owner's capital and owner's equity.
2023-06-21 21:05:15
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Julian Wilson
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Owner's draws are withdrawals of a sole proprietorship's cash or other assets for the personal use of the owner. ... The owner's draws are not reported as expenses on the income statement of the sole proprietorship. Rather, the owner's draws are considered to be a direct reduction of the owner's capital and owner's equity.