Below Are Owners' Equity Accounts for Three Different Forms of Business

question 76

Essay

Below are owners' equity accounts for three different forms of business entities.Identify which form of business entity each set of owners' equity accounts represents and explain how you arrived at your decision.
Business entity #1
$\begin{array} { l l } \text {Sara Kromar, capital } & \$ 100,000\\\text {Daniel Tondra, capita } & 15,000\\\text {Ant Pamer, capital } & 90,000\\\text { Kathy Frenan, capital}&110,000\\\text { Total capital}&\$ 315,000\end{array}$
Business entity #2

$\begin{array}{lr}\text {Stockholders' equity:}\\\text {Paid-in capital:}\\\text { Capital stock, } 25,000 \text { shares issued at par value of } \$ 5 \text { per share } & \$ 125,000 \\ \text { Paid-in capital in excess of par value } & \underline{250,000} \\ \text { Total paid-in capital } & \underline{\underline{\$ 375,000}}\end{array}$
Business entity #3
Mary Housel, capital $\quad$ $\quad$ $\quad$ $\$ 100,000$

---

Definitions:

Temperament

Genetically based behavioral tendencies seen in young children.

Personality

The combination of characteristics or qualities that form an individual's distinctive character.

Learned Behavior

Skills or responses that are acquired through observation, experience, or instruction, rather than being innate or instinctual.

Shyness

A feeling of apprehension, lack of comfort, or awkwardness especially when a person is around other people.