Answer appropriately

\fRed Reached $100,000 cash from former Low partning Deposited $:0,000 cash in a now tuningis bank account titled Jerry Ford, Attorney Paid $300 cash for letterhead stationery for the new law office. 7 Purchased office furniture for the law office. Ford agreed to pay the Account payable. $7,000, within } months. 10 Sold 500 shares of Intel stock, which he had owned for several 11 Deposited the $75,010 cash from sale of the level stock in his personal bank account 12 Areparentabove al a large company telephoned Ford and told him of the company's intention to transfer its legal business to Jerry Ford, Attorney 18 Finished court hearings on behalf of a client and submitted a bill for legal service, $50010, Ford expected to collect from this client within Pald office rent. $1,000 Withdrew $10 000 cash from the business for personal use4) What is the most appropriate business structure for the following Business people? a) Three close university friends who have recently qualified as dentists b) An up-and-coming artist c) A group of 35 accountants who have recently met at a conference and want to establish an accounting practice within the sports industry1. John Smith had successful business which he wanted to expand and needed extra funding. He was advised by bank that he needed an audit of his business to determine if his present business was profitable. John hired ABC accounting agency to audit his business they we given instructions to determine the level of profit made and if there was any fraudulent activity by staff members. ABC audit revealed that the company was highly profitable and there was no fraud by staff members. John was able get a loan from the bank based on ABC audit report. John experience financial difficulties one year after he received the loan. John a new audit done by XYZ accounting agency for the same period of ABC audit and it revealed that the company was not profitable and that the staff was issuing false invoices. Advise John if he can take any action against ABC