Purpose

In chapter 2, we learned about income, expenses, assets, liabilities and owners’ equity and how those come together to form balance sheets and income statements. This assignment will help you to understand how the balance sheet and income statement are inter-related and how different types of businesses affect what they will look like.  We are going to pretend that you have just obtained a $15,000 cash investment to be used to start a business of your choice.  But $15,000 is not enough to start your business and you are going to put together a business plan to borrow the rest of the money you need from the bank.  In this Business Plan you are going to include an essay that will enable you to borrow money from the bank and put together an advertisement to promote your business.