I am getting an owners draw but I don't know where it would be listed under the profit and loss statement
I am showing a net profit of 70k in the business for last year but I can't see the owners draw under the profit and loss. Is it listed differently on the statement?
Hello, owners draw is not listed on the profit and loss statement. Owners draw would be listed in the equity section of the Balance Sheet. The only exception would be if you are an employee of the business and then it would be listed under payroll expense officers salary. Thank You Tom Please click accept.
25 Years in preparing Personal and Business Tax Retuns