During 2014, Its First Year of Operations, Yaspo's Bakery Had

question 85

Multiple Choice

During 2014, its first year of operations, Yaspo's Bakery had revenues of $100,000 and expenses of $55,000. The business paid dividends of $30,000. What is the amount of equity at December 31, 2014?

• A) $0
• B) $30,000 debit
• C) $15,000 credit
• D) $45,000 credit

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Definitions:

Interviews

A method of data collection involving direct, face-to-face conversation or questioning between interviewer and respondent to gather information.

Collect Data

The process of gathering information or variables of interest in a structured way to answer questions or analyze a situation.

Observational

Relating to the collection of data by observing and measuring phenomena as they occur naturally, without intervention.

Experimental

Pertaining to an investigational method that involves manipulating variables to study cause and effect relationships.