During 2020, its first year of operations, Aida’s Bakery had revenues of $65000 and expenses of $35000. The business had owner’s drawings or dividends of $22000.
During 2020, its first year of operations, Aida’s Bakery had revenues of $65000 and expenses of $35000. The
business had owner’s drawings or dividends of $22000. What is the amount of owner’s equity at December 31, 2020, if the beginning balance was $-0-?
A) $8,000 credit
B) $220,000 credit
C) $0
D) $30,000
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