Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
What is a sole proprietorship?
A sole proprietorship is a form of business organization that is owned by one person. The owner is referred to as a sole proprietor.
In accounting, the balance sheet of the sole proprietorship reflects the accounting equation: Assets = Liabilities + Owner's Equity. Owner's Equity consists of the owner's capital account and also a drawing account. The drawing account is a temporary account in which the owner's current year draws or withdrawals are recorded. (The sole proprietor has draws because he or she does not receive a salary or wages. Hence, the income statement will not report an expense for the owner's work. This means that the net income reflects the total return for the owner's work and investment.)
A sole proprietorship is not legally separate from its owner (as would be the case with a corporation). However, a sole proprietor may be able to register as a limited liability company in order to limit his or her personal liability. Be sure to seek professional advice as to the appropriate form of business for your situation and location.
Expertsmind.com offers unique accounting assignment help
who invented it?
what are the biomechanical techniques for swimming freestyle?
A boat is heading across a river at a velocity of 25 mph. The river is flowing downstream at 10 mph. What is the actual velocity of the boat?
what is newton''s law of motion & application?
A consumer product firm finds that its brand of laundry detergent is losing market share, so it decides that it needs to "freshen" the product. One strategy is to maintain the curr
Trendline equation
Mention the characteristics of Statistics. Explain any two applications of Statistics.
which scale of measurement is used for Class size
what are the importances of time series
Bond Relationship A debt gadget issued through a official or just the formal legal procedure and secured either by the pledge of detailed properties or revenues or by the general
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd