The Controller for Tires and More,Inc

question 114

Multiple Choice

The controller for Tires and More,Inc.has recorded the following transactions during the month: the company was established by selling 10,000 shares of stock to the public for $20,000 on the 1st of the month;the company recorded $36,000 of revenue for tires and services provided during the month;and expenses of $22,000 were recorded for the month.Additionally,on the last day of the month the company declared dividends of $2,000.What is the balance of Stockholders' Equity at the end of the month,and is the balance a debit or a credit?

• A)$32,000 debit.
• B)$32,000 credit.
• C)$18,000 credit.
• D)$36,000 debit.

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Definitions:

Team Members

Individuals who belong to a group working together towards common goals or projects.

Meeting Effective

Pertaining to a meeting that is conducted in an efficient manner, achieving its objectives in a timely and productive way.

Group's Consensus

A general agreement or collective decision-making process within a group.

Collaborate

means to work jointly on an activity or project, especially to produce or create something.