ACC205,Week 3,assignment

ACC205,Week 3,assignment - Week 3 Assignment 1 Week 3...

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Week 3: Assignment 1 Week 3: Assignment: Decision Case 1 Darlene Solano ACC205: Principles of Accounting 1 Instructor Robert Carr October 7, 2010
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Week 3: Assignment: Decision Case 1 Chapter 6, page 344, Decision Case 1: Assume you are opening a Bed Bath & Beyond store. To Finance the business, you need a $500,000 loan, and your banker requires a set of forecasted financial statements. Assume you are preparing the statements and must make some decisions about how to do the accounting for the business. Answer the following questions (refer back to Chapter 5 if necessary). 1: Which type of inventory system will you use? Give your reason. (p. 255). There are two main inventory systems, perpetual and periodic. I would use the perpetual inventory system if I were starting a new business. My reason for this choice is that in a perpetual inventory system the system will keep a running record of inventory and the cost of goods sold. Creating a system that has better control over the inventory totals. I will have at my finger tips the number of units purchased, units sold, and the 2:
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This note was uploaded on 12/03/2010 for the course ACC 205 taught by Professor Robertcarr during the Fall '10 term at Ashford University.

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ACC205,Week 3,assignment - Week 3 Assignment 1 Week 3...

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