describe a business you would like to be involved in. Please introduce this business as your...

    

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describe a business you would like to be involved in. Please introduce this business as your opening paragraph for this signature assignment. Make sure you include enough information about this business for a possible investor. The business form you must choose is either a Sole Proprietor or a Limited Liability Partnership. (300 words minimum) You will prepare the following for the business described above: a) Income Statement b) Statement of Cashflow (direct method) Use the following information to prepare the various statements: Transaction Description Date 1/1/2020 Cash deposit to start business 1/1/2020 Three month's rent for office/store space 1/1/2020 Investment in current asset 1/1/2020 Additional current assets paid for 1/31/2020 Receipts for sales in January 2020 2/7/2020 Material supplied in January paid for 2/25/2020 Cash withdrawn by owner(s) 2/29/2020 Receipts for sales in February 2020 3/15/2020 Material supplied in February paid for 3/16/2020 Utility charges for Jan, Feb, Mar 2020 3/31/2020 Receipts for sales March 2020 3/31/2020 Balance in bank on March 31st 2020 Receipts $ 20,000.00 $ 8,500.00 $ 11,000.00 $ 18,000.00 $ 57,500.00 Payments $ 2,400.00 $ 650.00 $ 8,500.00 $ 6,500.00 $ 15,000.00 $ 6,000.00 $ 300.00 $ 18,150.00 $ 57,500.00 After the first three months of doing business, you want to calculate some ratios to see how your business is doing. You are considering a loan in the amount of $20,000 to upgrade your store/office and you want to make sure that you can afford the loan payments ($750 per month for 3 years). Use the income statement you created in part 2 of this assignment and calculate at least two ratios that can be calculated from an income statement (Hint: not all ratios can be calculated from an income statement!) Based on your calculations, comment on whether or not you should take out the loan for $20,000. Be specific and explain your decision in detail! (500 words minimum for part 3; this includes the calculations, why you chose them and what they represent). discussion was about corporate governance and control. The assumption for your business is that you are starting out as either a sole proprietor or a limited liability company. Depending on your decision, explain in detail how corporate governance would apply to you, what your commitment to social responsibility would look like, and what you will do to ensure your business is sustainable and profitable in the long-term. (minimum word count: 600). describe a business you would like to be involved in. Please introduce this business as your opening paragraph for this signature assignment. Make sure you include enough information about this business for a possible investor. The business form you must choose is either a Sole Proprietor or a Limited Liability Partnership. (300 words minimum) You will prepare the following for the business described above: a) Income Statement b) Statement of Cashflow (direct method) Use the following information to prepare the various statements: Transaction Description Date 1/1/2020 Cash deposit to start business 1/1/2020 Three month's rent for office/store space 1/1/2020 Investment in current asset 1/1/2020 Additional current assets paid for 1/31/2020 Receipts for sales in January 2020 2/7/2020 Material supplied in January paid for 2/25/2020 Cash withdrawn by owner(s) 2/29/2020 Receipts for sales in February 2020 3/15/2020 Material supplied in February paid for 3/16/2020 Utility charges for Jan, Feb, Mar 2020 3/31/2020 Receipts for sales March 2020 3/31/2020 Balance in bank on March 31st 2020 Receipts $ 20,000.00 $ 8,500.00 $ 11,000.00 $ 18,000.00 $ 57,500.00 Payments $ 2,400.00 $ 650.00 $ 8,500.00 $ 6,500.00 $ 15,000.00 $ 6,000.00 $ 300.00 $ 18,150.00 $ 57,500.00 After the first three months of doing business, you want to calculate some ratios to see how your business is doing. You are considering a loan in the amount of $20,000 to upgrade your store/office and you want to make sure that you can afford the loan payments ($750 per month for 3 years). Use the income statement you created in part 2 of this assignment and calculate at least two ratios that can be calculated from an income statement (Hint: not all ratios can be calculated from an income statement!) Based on your calculations, comment on whether or not you should take out the loan for $20,000. Be specific and explain your decision in detail! (500 words minimum for part 3; this includes the calculations, why you chose them and what they represent). discussion was about corporate governance and control. The assumption for your business is that you are starting out as either a sole proprietor or a limited liability company. Depending on your decision, explain in detail how corporate governance would apply to you, what your commitment to social responsibility would look like, and what you will do to ensure your business is sustainable and profitable in the long-term. (minimum word count: 600).