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pls check work Wima borrowed $110,000 from friends and family to start her company (a sole proprietorship). Business has been poor recently, and Wima has
pls check work
Wima borrowed $110,000 from friends and family to start her company (a sole proprietorship). Business has been poor recently, and Wima has decided to cease operations and liquidate the firm. She expects to obtain $101,000 from selling the assets of the company. Suppose Wima obtains only $101,000 when she sells all the assets of the firm. How much money would the debt holders receive if the business were a corporation? If it were a sole proprietorship? How much would Wima receive in each case? (Enter amounts received as positive, e.g. or parentheses e.g. (5,8. 45 and amounts paid as negative with either a negative sign preceding t numb e.g. Wima receive/(pay) Debt holders receive/(pay) Corporation 101,000 101.000 Sole proprietorship 110,000 101,000Step by Step Solution
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