You are an accountant and have two clients youâll be dealing
with during this assignment. JumpinJehosaPhats
is a haberdashery (Google it!), and
is owned by J.J. Phats. JJ is expanding
the company and is in need of advice. He
has come to you to discuss the future of the company.
Part 1 â Incorporating (25% of grade)
Discuss in detail the requirements
of incorporating the business, the advantages and disadvantages, and provide JJ
Part 2 â Account Prep (25% of grade)
Using the data provided, create the
ownerâs equity accounts and the shareholderâs equity section of the balance
sheet after the incorporation of JumpinJehosaPhats.
3 â Expansion Considerations (25% of grade)
JJ is in need of raising money to
expand the company and has identified the methods that he is considering. Using the information provided, calculate any
burden to the corporation and provide recommendations to JJ concerning his
Part 4 â Cash Flow (25% of grade)
Your second client, Baileyâs
Chocolates, is asking you to produce a Cash flow from Operating
Activities. Using the Indirect Method
and the information provided, calculate the cash flow from Operating
Be sure to cite your resources and include supporting
calculations and evidence to support your positions.
PLEASE SEE AND USE ATTACHMENTS for parts 2,3,4
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