During 2020, its first year of operations, Aida’s Bakery had revenues

Cornhusker Supplies Inc. purchased a 12-month insurance policy
May 5, 2020
1) Annapolis Company purchased a $1,000, 4%, 5-year bond at 95
May 5, 2020

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

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp
%d bloggers like this: