Question

what do you mean by drawings​

Answer 1

Answer:

The drawing account is an accounting record used in a business organized as a sole proprietorship or a partnership, in which is recorded all distributions made to the owners of the business. They are, in effect, "drawing" funds from the business (hence the name). There is no tax impact associated with the withdrawn funds from the perspective of the business, since taxes on these withdrawals are paid by the individual partners.