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  • This is for a daycare center 
    • What assets your company will require
    • Your investment
    • Revenue
    • At least 3 expenses
    • Your capital and withdrawal accounts
    • If a partnership, research how to set up the capital accounts
  • Discuss the internal controls necessary for your business. Consider how the Sarbanes-Oxley Act applies.
  • Develop journal entries for the first month. You must have the following, at a minimum:
    • Initial investment
    • Revenue/sales
    • 3 expenses
    • Owner’s withdrawal(s)
  • Post these to the ledger.
  • Develop a trial balance.

Discuss in your narrative why you chose the particular business and why you decided to set it up as a sole proprietorship or as a partnership.

Discuss the challenges that you will face in ensuring the integrity of your company's accounting information.

The deliverable for this assignment is one Excel spreadsheet with worksheets for the journal, the ledger, and the trial balance, with the narrative part of the assignment pasted in from Word.

  • 8 years ago
  • 20

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