A friend of yours wants to start her own pet sitting business. She already has a business license that is required in her city. She has had a personal checking account for years. You have told her that she also needs to open a separate account for her business needs, but she does not understand why she needs to have two separate accounts. Explain to her why she should have a business account separate from her personal account. Use some of the language of business you have learned in your text’s Introduction and in this chapter.
Answer to relevant QuestionsRead the following memorandum and provide the requested information. MEMORANDUMTO: Your Name DATE: July 31, 20— FROM: J. Perrault, Supervisor SUBJECT: Calculations for Richter Co. Please provide the following information ...Explain why the term debit doesn’t always mean “increase” and why the term credit doesn’t always mean “decrease.”During the first month of operations, Landish Modeling Agency recorded transactions in T account form. Foot and balance the accounts; then prepare a trial balance, an income statement, a statement of owner’s equity, and a ...During February of this year, H. Rose established Rose Shoe Hospital. The following asset, liability, and owner’s equity accounts are included in the chart of accounts:Cash Shop Equipment Store Equipment Office Equipment ...In the following two- column journal, the capital letters represent where parts of a journal entry appear. Write the numbers 1 through 8 on a sheet of paper. After each number, match the capital letter where these items ...
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