The Controller for Tires and More,Inc

question 41

Multiple Choice

The controller for Tires and More,Inc.has recorded the following transactions during the month: the owner established the business with a $20,000 investment 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 owner withdrew $2,000 for personal expenses.What is the balance of Owner's 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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