Instructions: You will be answering questions and creating transactions related to a business you create.

THIS IS WORTH 116 POINTS, DO YOUR BEST! Step 1: REVIEW QUESTIONS (16 points) Directions: Use your textbook and notes if necessary to answer the review questions below: Explain what a merchandising business is? hen! give at least " examples.

Explain what a manufacturing business is? hen! give at least " examples

Explain what a service business is? hen! give at least " examples

#hat is a chart of accounts? #hat number do assets accounts start with?$$$$$$ #hat number do liability accounts start with?$$$$$ #hat number do owner%s equity accounts start with?$$$$$$ #hat number do revenue accounts start with?$$$$$$$$ #hat number do expense accounts start with?$$$$$$$ #hat is a sole proprietorship?

&escribe the transactions that the source documents listed below could represent. 'heck (tub )nvoice *eceipt +emorandum

Step : YOUR BUSINESS Directions: 'reate a so!e p"op"ieto"s#ip that is appropriate for high school. )n other words! no bars! strip clubs! package stores! etc, #hat is the name of your business? -" pts.

#hat is the owner%s name? -/ pts..

&escribe your business in the space below. -#hat do you do? 0re you a service business! merchandising business! manufacturing business? #here are you located? &oes your business have any employees? #hat assets do you own? Etc.. You can use the book problems as a guide but you cannot use one of their businesses. -/1 points.

'reate a chart of accounts for your business. You must have at least seven assets including two 0ccounts *eceivable accounts! two 0ccounts 2ayable accounts and two *evenue accounts. You must have at least 3 expense accounts. -/4 points. '50* 67 0''6U8 ( $ %&&o'nt N()e $ %&&o'nt N()e

NOTE: Yo' *o not #(+e to ,i!! t#e -#o!e &#("t.

8ow for the fun part, create /1 transactions for your business! make sure you use the correct source documents. &escribe the transactions like they do in your +astery 2roblem. he month is 6ctober "119. -"1 points. 6ctober / : : /1 /" /3 /; "" ": <1

8ow =ournali>e each transaction on the attached ?ournal. -@1 points. &raft an advertisement for your business below: -/1 points.

8ame:$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ &ate:$$$$$$$$$$$$$$$$$$$$2er:$$$$ 20AE @ of :