Expenses follow the same debit and credit rules as a.the drawing account b.liabilities c.revenues d.the capital account

Respuesta :

Expenses follows the same rule of the debit and credit as that of the Drawing account.

What is Drawing Account?

The Drawing account is the account in which the transactions of the money withdrawn from the business is recorded. The money is withdrawn by the owner of the business.

The golden rule of the accounting says that the debit the expenses and losses and credit the income and gains.

A debit to the drawing account and a credit to the cash account constitute the standard accounting entry for the drawings account (or whatever asset is being withdrawn).

It reflects the capital's deductibility from the overall equity of the company.

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