Cookie Creations (Chapter 1)
The assignments for this course will focus on the Cookie Creations case study from the textbook. This is the beginning of the case involving Natalie, who is investigating the possibility of starting her own business.
For this assignment, you will apply what you have learned from the unit lesson and the required unit resources. This assignment will allow you to practice what you have learned so far. You will be working on this same case study throughout this course.
The Cookie Creations case study starts on page 1-44 in the textbook. Read the case study, and answer the questions below.
What form of business organization (i.e., proprietorship, partnership, or corporation) do you recommend that Natalie use for her business? Discuss the benefits and weaknesses of each form, and explain the reasons for your choice.
Will Natalie need accounting information? If yes, what information will she need, and why? How often will she need this information?
Identify specific asset, liability, and owners equity accounts that Cookie Creations will likely use to record its business transactions.
Should Natalie open a separate bank account for the business? Why, or why not?
Please respond to each question substantively as the highest grades will be reserved for those that thoroughly answer the questions and show an understanding of the concepts from Chapter 1.
Your responses to these questions should be supported by what you have learned from this unit, your textbook, and additional resources. Your response should be a minimum of two pages in length and include at least two references. Adhere to APA Style when creating citations and references for this assignment.
PRINCIPLES OF ACCOUNTING BUSINESS