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Identify specific asset-liability and owner equity accounts

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Reference no: EM133153713

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 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 owner's 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?

Reference no: EM133153713

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