Question in accounting... please help!?

Question

1. what are the two types of withdrawals made by the owner?

2. what is the treatment of cash withdrawal for personal use by the owner in anticipation of future profits?

3. what are some examples of business documents?

4. what is the concept of double-entry bookkeeping system?

Answer 1

distribution/draw & salary

distribution/ draw

Employment contract, employment application, invoices

using debits and credits to record a transaction (debits = credits) rather than a single entry system which is no different than your checkbook register