The amount for the Withdrawals account will appear in the Income Statement columns of a work sheet.

Name: The amount for the Withdrawals account will appear in the Income Statement columns of a work sheet.
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Quizplus · Accepted Answer

The Withdrawals account, representing amounts taken out of the business by the owner, does not appear in the Income Statement columns but rather in the Statement of Owner's Equity columns of a work sheet, as it affects the owner's equity but is not an expense or revenue of the business.

The Amount for the Withdrawals Account Will Appear in the Income