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What is the balance of owner equity at the end of the month

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Problem 1: 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.

Reference no: EM132930637

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