Start of a Business plan

Start of a business plan
Build on the idea for seafood restaurant
The initial business plan should include the following:
•Name- Miss Pam- Seafood Boiling Hut
•Type of business: Serving Boiled Seafood
•Sole Proprietorship
•Chart of Accounts-consider the following:
â—¦What assets your company will require
â—¦Your investment
â—¦Revenue
â—¦At least 3 expenses
â—¦Your capital and withdrawal accounts
•Discuss the internal controls necessary for your business. Consider how the Sarbanes-Oxley Act applies.
•Develop journal entries for the first month. You must have the following, at a minimum:
â—¦Initial investment
â—¦Revenue/sales
â—¦3 expenses
â—¦Owner- withdrawal(s)
•Post these to the ledger.
•Develop a trial balance.
Discuss in a narrative why you would chose to set it up as a sole proprietorship
Discuss the challenges that you will face in ensuring the integrity of your company's accounting information.
The deliverable for this assignment is one Excel spreadsheet with worksheets for the journal, the ledger, and the trial balance, with the narrative part of the assignment pasted in from Word.

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