Answer:
The question requires that you show the effect of the previous transactions on a statements model. Since there is not enough room here, I prepared the attached excel spreadsheet.
<u>Full question:</u>
Margie opened a used bookstore and is both the 100 percent owner and the store's manager. Which type of business entity does Margie own if she is personally liable for all the store's debts?
A. sole proprietorship
B. limited partnership
C. corporation
D. joint stock company
E. general partnership
<u>Answer:</u>
sole proprietorship type of business entity Margie own if she is personally liable for all the store's debts.
<u>Explanation:</u>
The sole proprietorship is not a lawful thing. It solely applies to a character who holds the firm and is individually answerable for its shares. They can operate subsequently the title of its master or it can run the company under a counterfeit name.
They are the most obvious design of business to build or practice alone, due to a lack of management law. As such, these kinds of businesses are extremely familiar among individual masters of companies, personal self-contractors, and counselors.
Here she is going to be owner and manager so she can choose sole proprietorship where no government formalities are there and she can be answerable to her is sufficient.
Answer: Jackson would decrease CASH and increase EXPENSES in the accounting equation.
Explanation: Jackson would lose cash by spending his money and his Living expenses will also rise along with it.
Answer:
A) an investment adviser will be acting in the capacity of a principal
Explanation:
In case when the consent of the client made prior to completing the trade among the firm and client is made when the investment advisor would be acting as a principal i.e he has a capacity to act as a principal
Therefore in the given situation, option A is correct and the same is to be considered
hence, all other options are incorrect
