Business entity that limits owner liability to their shares, and has a limited number of shareholder

(1)Company Background, Organizational Structure and Nature of the Business. Gadget Geek Sdn Bhd is a private limited company which purchases and sells all kinds of computer related electronic devices. Since it is a private limited company, it is a type of privately held small business entity. This is a type of business entity that limits owner liability to their shares, and has a limited number of shareholders to 50, and it restricts shareholders from publicly trading shares. Attached in the following pages are journals, ledger accounts, statement of financial position prepared for the months during April, May, and June of 2017.