Critical Thinking Assignment #$1$: Complete the following requirements, entering solutions in blue $c$ Requirement $4$

$\begin{array}{cc}\text{W}\text{h}\text{i}\text{l}\text{e}\text{C}\text{o}\text{d}\text{y}\text{M}\text{o}\text{u}& \text{R}\text{e}\text{q}\text{u}\text{i}\text{r}\text{e}\text{m}\text{e}\text{n}\text{t}1\end{array}$

Requirement $1$

The following descriptions of organizations below belong to either a Sole Proprietorship,

Cody Marship, or a Corporation. Please identify accordingly.

personaly borts has two owners, both of whom are

ble for the debts of the company.

their home to pay debt of the company

RAM Computer Company has $20,000$ shar

stock and $5,000$ shares of preferred stock

Requirement $2$

Cody Mountain Sports completed three guiding trips in the past year: one trip to Lander, WY which

resulted in revenues of $$12,000,$ one trip to Billings, MT which resulted in revenues of $$13,000,$

and one trip to Bozeman, MT which resuled in revenues of $$11,000.$ Additionally, the company

paid expenses of $$3,000$ for fuel, $$5,000$ for staffing and $$1,000$ for insurance. Calculate their

net income accordingly.

$$36,000\mathrm{.}00$

Requirement $3$

Identify the following ten accounts as either Asset, Liability, or Owner's Equity.

Please correct if my answers are wrong! Its for accounting.