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Lubov Fominskaja [6]
3 years ago
15

Will and Bill both enjoy sunshine, water, and surfboards. Thus, the two friends decided to create a business together renting su

rfboards, paddle boats, and inflatable devices in California. Will and Bill will equally share in the decision making and in the business profits or losses. Which type of business did they create if they both have full personal liability for the firm's debts?
A. Sole proprietorship
B. Limited partnership
C. Corporation
D. Joint stock company
E.General partnership
Business
1 answer:
geniusboy [140]3 years ago
4 0

Answer:

E. general partnership

Explanation:

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Swifty's Market used the perpetual method to record the following events involving a recent purchase of inventory:
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Answer:

Inventory balance will be of 73,318

Explanation:

Inventory                     75,400

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Account payable           1,300

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to record return of goods

Inventory                          700

            Cash                                  700

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to record payment of invoice within discount period

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74,100 x 2% = 1,482

Inventory balance:

<em>   DEBIT         CREDIT</em>

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