The balance of the owner's drawing account is extended to the Income Statement Debit column of the worksheet.

Name: The balance of the owner's drawing account is extended to the Income Statement Debit column of the worksheet.
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Question

Quizplus · Accepted Answer

The owner's drawing account is not extended to the Income Statement but rather to the Balance Sheet section of the worksheet because it represents withdrawals by the owner, not an expense of the business.

The Balance of the Owner's Drawing Account Is Extended to the Income