[arkjarhead]

Fratz,
I'm going to tell you up front I know nothing about accounting. I'm telling you this because I don't want you to think I'm acting like a smarty pants know it all because I don't. I'm in the college class Intro to Accounting and I'm just trying to apply what I'm learning in class to the real world.

Here is my question and I hope I don't confuse you with it. Of course o/os are going to withdraw money from their business accounts to pay personal bills. I know this has to be tracked. So is this where in double entry accounting you have the account the drawing account? If so this makes a lot of what is being taught to me in class make sense. Of course you know the drawing account comes into the extended accounting equation which is assets= liabilties+owner's equity-drawing+revenues-expenses.

I hope I haven't confused you or came across as a know it all I'm just trying to take some stuff from the classroom and apply it to the real world.