Business Transactions

Question 1

You are interested in establishing a small business. Write a paper between 1,000 and 1,500 words discussing your small-business idea. Include the following:

1. An explanation of your business and the product or service your small business provides.

2. Identify which accounting method (i.e. cash versus accrual) you plan to use for your business. Why did you select this choice?

3. List six business transactions you expect to incur with your company. State which accounts (from your chart of accounts) are impacted.

4. Discuss how each business transaction (see point 3) impacts your income statement, balance sheet and statement of cash flow.

5. Select one organization type (sole proprietorship, partnership, C-corporation, and S-corporation) for your company and explain why you selected this option. 

Format your paper consistent with APA guidelines and submit your paper and Turnitin report via the assignment files tab.

Question 2

Imagine that you are working for a human service agency the functions as a local food pantry. In the past week you have noticed and increase in the number of recipients seeking food. You decide to investigate.

Discuss the following: 
What research approach or method will you use to ascertain the cause of the increased demand for food? Be specific. Give examples.