Answer:
Mandy Capital Debit: 100,000
Brittney Capital Credit: 100,000
Explanation:
The journal entry will be recorded as above. Mandy sold equity worth $100,000, so we will record the entry on transfer of equity by the equity value sold. Now, for this equity value both partners can decide the amount in which one will sell to other, which in this scenario is $85,000.
A sole proprietor has unlimited personal liability for all business debts and obligations.
<h3>Who is a
sole proprietor?</h3>
A sole proprietor is the owner of a sole proprietorship. A sole proprietorship is a type of business that is owned by one person.
A sole proprietor and the business are regarded as a single person under the law. Thus, a sole proprietor has an unlimited liability. An unlimited liability means that in event of default, both the e property of the business and the sole proprietor can be seized.
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Answer:
An area with younger people will have a higher demand for rentals and a lower demand for buying.
