In a balance sheet and profit and loss account?

Question

Do i include Personal drawings in the budget sheet as in cash taken out..?and where do i write that under? liabilities or under equity? and in the profit and loss account. do they come under expenses?

Answer 1

the personal draw goes under the owner's equity section but does not affect the net profit on the P&L. Personla Draw is not considered an expense.  

Answer 2

Personal draw is not an expense. record it under owner's equity