Question

MacBook Air 1-7. Identification of form of basiness. For each of the following. a represents. Use the letter A for wing, insert a capital letiter to identify which form of business the item proprietorship, B for partnership, or C for corporation. Georgette Green begins a pet care business by investing $5,000. At the end of the year, she will include the business income or loss on her personal income tax return. 2. Additional paid-in capital for the Trailblazer Company is 58 per share. 3. Bronson Company presents a statement of retained earnings in its financial statements 4. Jean Johnson's home health care business does not have liability separate from herself 5. Grand Canyon Company's retained earnings balance is $5 million. at year-end 6 Jim Moore and his daughter, Jerra Moore, agree that 60% of their company's net profit will go to Jim and 40% ofthe net profit will go to Jerra. 7. Michael Johnson and Joaquin Nunoz each invested $10,000 in their computer consulting business, and received shares of the company's stock in exchange for their investments. 8. Tamara Bryant's veterinary clinic has separate liability. She is the only owner. 9. Alan and David Washington own an automobile repair garage. Alan's capital balance is $8,000 and David's capital balance is $7,000. 10. Crown Candy Company presents a statement of owner's capital in its annual financial statements

Answer 1

1	A
	Reason: GG Begin a pet Care Business which shows Propretorship
2	C
	Reason: Additional Paid in Capital which represent Corporation involvement
3	C
	Reason: Retained Earning   which represent Corporation involvement
4	A
	Reason: JJ Operating a health care business and not having seperrate liabilty which shows Propretorship
5	C
6	B
7	B
8	A
9	B
10	C