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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Definitions:

Black Bile

In ancient and medieval medicine, one of the four bodily humors believed to be associated with melancholy.

Essential Fluid

A necessary or critical bodily fluid for physiological functions, such as blood, lymph, or cerebrospinal fluid.

Trephination

An ancient medical procedure that involves drilling or scraping a hole into the human skull to treat health problems, believed to release evil spirits.

Blood Circulation

The continuous movement of blood through the heart and blood vessels, delivering nutrients and oxygen to all parts of the body.