1 . Explain why there is a difference of $12 between total liabilities and equity on the corporate balance sheet and on the single proprietorship balance sheet.

2.Explain the differences between equity on the balance sheets for a corporation and a single proprietorship

3. company issues 7,000 common shares and a $40,000 note payable in exchange for equipment valued at $105,000. Does the entry to record this transaction include a credit to (a) Retained Earnings for $65,000; (b) Common Shares for $65,000; or (c) Common Shares for $105,000?

4.To illustrate, here is the entry to record Dillon Snowboards' receipt on July 2, 2023, of land valued at $105,000 in return for immediate issuance of 4,000 common shares: What was the average issue price per common share at July 31, 2023?

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