There are no equity accounts in a corporation, and if you have shareholder accounts, then you have a corporation.
Shareholder accounts are of a type called equity, but can not be used the same way as equity accounts can be used in a sole proprietor or partnership business.
Owners personal expense should be an asset account that the owner pays the company back. He has used company money for personal stuff and owes the company.
Same for the shareholder loan payable.
To answer your question though, yes, debit shareholder loan payable and credit owner expense.
Then I suggest you get with a tax accountant to get things straightened out.
