Subject category:
Finance, Accounting and Control
Published by:
Darden Business Publishing
Length: 4 pages
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Abstract
Frustrated by not being able to find a pair of red cowboy boots in her size, a Florida woman, who works as a bookkeeper, and her out-of-work husband decide to open their own business. Although the store manages to earn a small profit, early sales returns dampen the couple''s enthusiasm. Now they need to plan for the year ahead. Students are given a balance sheet and income statement for 2006, and are asked to prepare a forecasted balance sheet and income statement for 2007.
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Abstract
Frustrated by not being able to find a pair of red cowboy boots in her size, a Florida woman, who works as a bookkeeper, and her out-of-work husband decide to open their own business. Although the store manages to earn a small profit, early sales returns dampen the couple''s enthusiasm. Now they need to plan for the year ahead. Students are given a balance sheet and income statement for 2006, and are asked to prepare a forecasted balance sheet and income statement for 2007.