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had revenues of $00.000a 25 During 2015, its first year of operations Benny's Bakery 318.000 What is the expenses of $33,000 The business had owner drawings amount of owner's equity at December 31.2019 201 A) S0 B) $18 000 debit C) $9 000 credit D 527,000 credt Unearned revenue is classified as A) An asset accourt B) A revenue account C) A contra-asset acoount D) A liability 26. personal use, these 27 When an owner withdraws cash or other assets from a business for wdrawas are caled A) Expenses B) Drawings C) Depletions Di Revenues 28 Which account normally has a credit balance? B) Accounts Recelvabie C) Accounts Payabie D) Expenses 29 Owner's Capital equals A) Investmerts minus revenues minus expenses minus drawings B) Investments plus revenues plus expenses plus drawings C) Investments plus revenues minus expenses minus drawings D) Investments plus revenues plus expenses minus drawings 30 According to the revenue recognition principle, revenue is recorded when A) The order is received B) The service is performed C) Cash is received D) No returns are made 31 At the beginning of the month XEEPS Company had a beginning balance in its owner's capital account of $100,000 Xee invested another $25.000 The company earned net income of $40,000 At the end of the month Xee wihdrew $15,000 What is the ending balance in owner's capital? A) $125.000 B) $150,000 C) $165,000 D) $180,000

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