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Review problem related to rock-n-away cradle company

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Question: One year ago, Rosie Pekin inherited $50,000 from her aunt. She decided to invest it in Rock-n-away Cradle Company. The Company declared bankruptcy last week and is in debt for about $100,000. Answer each situation below independently.

1) If Rock-n-away Cradle Company is a corporation, how would that debt affect Rosie?

2) If Rock-n-away Cradle Company is a sole proprietorship, how would that debt affect Rosie?

3) If Rock-n-away Cradle Company is a partnership with Rosie and Deb Johnson that is split equally, how would that debt affect Rosie?

Reference no: EM131739670

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