On January 1, 2011, Cary Parsons Established Cary's Catering Service

question 17

Essay

On January 1, 2011, Cary Parsons established Cary's Catering Service. Listed below are accounts to use for transactions (a) through (d), each identified by a number. Following this list are the transactions that occurred during the first month of operations. You are to indicate for each transaction the accounts that should be debited and credited by placing the account number(s) in the appropriate box.

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Definitions:

Strict Liability

A legal doctrine under which a party is held responsible for damages or harm caused by their actions or products, without the need to prove negligence or intent.

Contributory Negligence

Contributory Negligence is a legal defense in tort law where the plaintiff's own negligence played a role in causing the harm and can limit or bar recovery from the defendant.

Assumption of Risk

A legal principle that a person who voluntarily engages in an activity is aware of and accepts the hazards associated with that activity.

Premises Liability

A legal principle that holds property owners and residents liable for accidents and injuries that occur on their property, depending on the legal status of the visitor.