The Controller for Tires and More,Inc

question 67

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.What is the balance ofOwner's Equity at the end of the month,and is the balance a debit or a credit?

• A)$34,000 debit.
• B)$34,000 credit.
• C)$20,000 credit.
• D)$6,000 debit.

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Definitions:

Zygote

A zygote is the initial cell formed when a new organism is produced by sexual reproduction, following the fusion of male and female gametes.

Fetus

Developing human from about 9 weeks until birth.

Pregnancy

The condition of having a developing embryo or fetus in the body, typically in the womb, that results after fertilization of an egg by a sperm.

Midpiece

The segment of a spermatozoon between the head and the tail, containing mitochondria to power movement.