The Journal Entry to Record a Withdrawal by the Owner

question 108

Multiple Choice

The journal entry to record a withdrawal by the owner would most commonly include:

• A) a debit to Wage Expense and a credit to Cash.
• B) a debit to Capital and a credit to Cash.
• C) a debit to Withdrawals and a credit to Cash.
• D) a debit to Cash and a credit to Wage Expense.

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Definitions:

Genetics

The study of heredity and the variation of inherited characteristics.

Obese Parents

Parents with a body mass index (BMI) of 30 or higher, which may influence their children's health and lifestyle habits through genetic and environmental factors.

Active Engagement

The involvement or participation in activities or situations that require mental or physical exertion, leading to a deeper understanding or improved skills.

School Drop Out

The act of leaving school before completing the mandatory education level, often resulting in limited job prospects and economic opportunities.