Accounting TransactionOwner removed from inventory one of the TV ($100) for personal use in s/he home.Credit:Inventory BUT WHAT I DEBIT?inventory shrinkage losses or Owner's Drawing?

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Accounting TransactionOwner removed from inventory one of the TV ($100) for personal use in s/he home.Credit:Inventory BUT WHAT I DEBIT?inventory shrinkage losses or Owner's Drawing?
Accounting Transaction
Owner removed from inventory one of the TV ($100)
for personal use in s/he home.
Credit:Inventory
BUT WHAT I DEBIT?
inventory shrinkage losses or Owner's Drawing?

Accounting TransactionOwner removed from inventory one of the TV ($100) for personal use in s/he home.Credit:Inventory BUT WHAT I DEBIT?inventory shrinkage losses or Owner's Drawing?
Owner's Drawing

Drawings.
It refers to one of the accounting concepts called business entity.It states that all assets and liabilities of those who play a part in onwer's life must not be recorded in one particul...

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Drawings.
It refers to one of the accounting concepts called business entity.It states that all assets and liabilities of those who play a part in onwer's life must not be recorded in one particular business.It needs to be separate.The main link of the business and the owner's personal funds are capital and drawings.
Hope that could help u lol

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