Here is the synopsis of our sample research paper on Establishing the Accounting System for a New Business. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
An 8 page paper providing a chart of accounts; sample income statement and balance sheet; sample general ledger entries; and an income statement and balance sheet with fictitious numbers for the new business. The business is a single-location gym and fitness center. Bibliography lists 4 sources.
Page Count:
8 pages (~225 words per page)
File: CC6_KSacctEstBks.rtf
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Unformatted sample text from the term paper:
The new business is a local gym that needs to establish an accounting system. The business will be using the cash method of accounting. The accrual
method can have tax advantages not available in the cash method, but it also requires additional effort to maintain and to document. The gym will do its own bookkeeping,
but it will not have an accountant on staff for some time. The gym will be a single-location business for some time and would not fully benefit from the
advantages the accrual method offers. In the meantime, using the cash method assures the business of accurate accounts using the least amount of contracted accountant time. Chart of Accounts
The chart of accounts that the business will use is straightforward and reflects the needs of a fitness center business. Table 1.
Sample Chart of Accounts Liabilities Debt Taxes Accounts Payable Equity Retained Earnings Current Year Earnings Expenses Facility Rent and Utilities Operating expenses Payroll taxes Wages and salaries Marketing Advertising
Promotions Income Sales Interest Income Assets Cash Fixed assets Investments Source: (A Sample Chart of Accounts, n.d.) These categories will be used
in the business balance sheet, a sample of which follows. Sample Balance Sheet Assets Cash And Cash Equivalents 0 Short Term Investments 0 Net Receivables 0 Other Current
Assets 0 Total Current Assets 0 Long Term Investments 0 Property and Equipment 0 Intangible Assets 0 Total Assets 0 Liabilities 0 Current Liabilities 0 Accounts Payable 0
Short/Current Long Term Debt 0 Total Current Liabilities 0 Long Term Debt 0 Total Liabilities 0 Equity 0 Common Stock 0 Retained Earnings 0 Capital Surplus 0 Total Equity
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