Homework Answers
| This form of organization where there is separate legal entity and no personal liability | ||||||
| In this case Matt and Alicia has form corporate entity. | ||||||
| Current assets are the liquid assets of the company easily converted into cash | ||||||
| Current assets | Inventory + Cash + Accounts receivable | |||||
| Current assets | 417600+51900+313900 | |||||
| Current assets | $783,400 | |||||
| Thus, amount of current assets is $783,400 | ||||||
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Matt and Alicia created a firm that is a separate legal entity and will share ownership...
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