asset
balance sheet
The classification and normal balance of the drawing account is the owner's equity with a debit balance. A balance sheet is a summary of a company's liabilities and assets, as well as the shareholders' equity.
cash flow statement
external users like statutory firms, share holders etc
Early man would draw on cave walls using charcoal (burnt sticks) and other materials. These drawings would record and explain events like a hunt or a battle. These are the first known drawings.
Drawings are recorded as a reduction of owners equity at equity side of balance sheet.
yes
asset side
Consolidated balance sheet shows the record of full group of companies while simple balance sheet shows the record of single company.
Balance sheet is the record of Assets and Liabilities.
Tax is an expense, you do not record it in a balance sheet but on the general journal.
Record it as an expense.
The Drawings account is not an expense account. It is a contra equity account. Therefore, it appears on the balance sheet.
intangible asset
balance sheet is a record of debit and credit entry of account in order to obtain the net profit of the business.
It would be a credit to bank and a debit to the capital account. Most of the time there will be a drawings account, but it will be by the capital in the balance sheet.
Investments