Question: Nerissa Smith has invested $ 4 7 , 0 0 0 in Northeast Productions Company. The firm has recently declared bankruptcy and has $ 1

Nerissa Smith has invested $47,000 in Northeast Productions Company. The firm has recently declared bankruptcy and has $108,000 in unpaid debts. Explain the nature of Nerissas personal liability, if any, in each of the following situations.
Northeast Production Company is a sole proprietorship owned by Ms. Smith.
Northeast Production Company is a 5050 general partnership of Nerissa Smith and Roger Brown.
Northeast Production Company is a limited partnership where Nerissa Smith is a limited partner.
Northeast Production Company is a corporation.

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