9:087 115GE 1 Х HWweek1: Attempt 1 Question 11 2 Points Identify the following accounts of...

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Question 11

“Barbara Mallary, Drawing” account is an “[contra] Owner’s Equity” account having a normal DEBIT balance.

Whenever the business man withdraws cash from his own business, it gets accounted for as “Drawings”.
Drawing accounts is a contra Owner’s Equity account which DECREASES the total Owner’s Equity.

Hence,
Barbara Mallary, Drawings = ‘C’ Owner’s Equity having a normal DEBIT balance.

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