Owner Draw/Distribution - ENGAGE CPAs

We talked all about the big headings, assets, liabilities, equity, but let's break those down a little further. We're going to dive into some accounts, let's talk about the equity account OWNER DRAW/DISTRIBUTION.
Definition You Need to Know: Owner Distribution is the account used when taking money out of the business for personal use or to pay yourself from the profits of the business. Money taken out of the business bank account isn't always a business expense, classifying it as equity, means that it won't accidentally be picked up as a deductible business expense.
Sole Proprietorships, SMLLCs, Partnerships, and S-Corporations can all distribute money from the business bank account without tax consequences, because they pay tax on the profits of the business, regardless of whether or not they take them out. However, C-Corporations must 1099 the owners when they distribute money to themselves because that distribution is taxable on the owner's personal income tax return.
Where are they on my financials? Owner Draw/Distribution is an equity that shows up on the balance sheet.