Case a: assume that the company is a sole proprietorship owned by proprietor a. prior to the closing entries, the capital account reflects a balance of $52,000 and the drawing account shows a balance of $9,000. case b: assume that the company is a partnership owned by partner a and partner b. prior to the closing entries, the owners’ equity accounts reflect the following balances: a, capital, $43,000; b, capital, $43,000; a, drawings, $5,000; and b, drawings, $7,000. profits and losses are divided equally. case c: assume that the company is a corporation.

Read the scenario. alfonso is 19 years old and has a high school diploma. recently, he was promoted to assistant manager at the fast-food restaurant where he has worked since the age of sixteen. his dream is to become the restaurant’s manager. what is his best option for achieving his dream? he should find another job and work his way up to a higher position. he should hope that his manager transfers to another location and that he is his replacement. he should attend classes at the local college to receive training in management. he should work hard, work longer hours, and remain assistant manager.