Goods withdrew by Owner would mean that the owner is taking stock right?
So this will have to credit the inventory account, and debit the owners equity, so it will debit the owners Capital account.
I presume that since the owner is withdrawing goods it will also mean that the owner needs to pay the GST (Goods and Services Tax) since he is the end consumer and will still need to pay tax.
Have I understood this right?
Thanks in advance!
Garage Office.