Review the following balance sheet and answer the following questions.
1.Is this business a sole proprietorship,partnership,or corporation? How do you know?
2.Who has claims to the assets owned by the business and how much are they?
3.Assume that April is the first month of operations and no dividends were given to the owner.How much net income was earned during April?
4.Using this balance sheet,describe what Barry Rich did during the first month of running his business.

Question

Review the following balance sheet and answer the following questions.
 1.Is this business a sole proprietorship,partnership,or corporation? How do you know?
2.Who has claims to the assets owned by the business and how much are they?
3.Assume that April is the first month of operations and no dividends were given to the owner.How much net income was earned during April?
4.Using this balance sheet,describe what Barry Rich did during the first month of running his business.

Quizplus · Accepted Answer

The Answer of Review the following balance sheet and answer the following questions.
 1.Is this business a sole proprietorship,partnership,or corporation? How do you know?
2.Who has claims to the assets owned by the business and how much are they?
3.Assume that April is the first month of operations and no dividends were given to the owner.How much net income was earned during April?
4.Using this balance sheet,describe what Barry Rich did during the first month of running his business.

Review the Following Balance Sheet and Answer the Following Questions