Solution

A Personal account is a General ledger account connected to all persons like individuals, firms and associations. Since drawing made by the owner relates to an individual it falls under the personal account category. Drawing Account is a contra owner's equity account used to record the withdrawals of cash or other assets made by an owner from the company for its personal use during a financial year. It is temporary in nature and it is closed by transferring the balance to an owner's equity account at the end of the financial year resulting in a reduction in the capital of the owner at the end of the year.