I think it's <span>C.banks holding some excess reserves</span>
The type of business ownership is best suited to her needs limited partnership. Thus option (C) is correct.
<h3>What is Partnership Business?</h3>
A partnership business consists of two or more individuals who pool their resources to create a company and agree to split the risks, rewards, and losses.
Law firms, medical groups, real estate investment firms, and accountancy groups are examples of common partnership businesses.
According to the above, scenario, Molly with her husband and the sister-in- law as partners wanted to start a business. She wants faster decision making, least regulation and ease in doing business.
All the requirement of her matches with the limited partnership type of the business where the liability of all the partners are limited to their amount of investment.
Thus option (C) is correct.
Learn more about partnership here:
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Answer:
Total Assets=$13,500
Explanation:
Assets are items which are used by any company or firm for positive economic value production.
In our problem, we have to find total assets.
Given Data:
Accounts Receivable=$800
Equipment=$10,000
Accounts Payable=$4,200
Prepaid Rent=$2,000
Supplies=$400
Bank Loan=$1,600
Tools= $300
Total Assets=Accounts Receivable+Equipment+Prepaid Rent+Supplies+ Tools
Total Assets=$800+$10,000+$2,000+$400+$300
Total Assets=$13,500
Answer:
Ending balance of assets is $ 857,100
Explanation:
Computation of total assets of Kirk Corporation
Opening Assets $ 851,000
Purchase of equipment $ 6,100
Purchase of supplies for cash $ 0
Sale of land at cost $ 0
Agreement for storage space <u>$ 0</u>
Ending balance Assets $ 857,100
Purchase of equipment on credit increases assets
Purchase of supplies for cash is neutral. Supplies ( considered as included in inventory) is paid in cash asset increases and decreases
Sale of land at cost is also neutral for asset purposes
Agreement to rent storage space is not an executed transaction
Answer:
The correct answer is: Trial balance.
Explanation:
A Trial Balance is a worksheet listing all of an entity's ledger accounts debit and credit balances. According to accounting theory, the sum of all debits should equal all credits. Because the trial balance is a list of all accounts, it serves as a verification of accuracy.
