Answer:
c. tenants by the entirety.
Explanation:
-Community property owners means that a property owned by a married couple is divided equally.
-Joint tenants is an agreement in which two people own a property with the same rights and obligations.
-Tenants by the entirety is an arrangement in which a married couple own a property and the husband or the wife can't sell it without the consent of the other.
-Tenants in common is an agreement in which two or more people own a property and they can have different percentages.
According to this, Kelly and Lon own the lodge as tenants by the entirety.
Answer: (a) Retained earnings = Equity.
(b) Sales = Revenues.
(c) Additional paid-in capital = Equity.
(d) Inventory = Assets.
(e) Depreciation = Expenses.
(f) Loss on sale of equipment = Losses.
(g) Interest payable = Liability.
(h) Dividends = Dividends payable are a liability. Dividends paid are a decrease in the accumulated results of the company as they are distributed to the owners.
(i) Gain on sale of investment = Gains.
(j) Issuance of common stock = are investments by the owners that become part of the capital.
