1 Introduction to Accounting

ACTIVITY 1

Imagine you would like to launch your own internet startup company. Though you dont need to purchase any equipment, you would like some funding for advertising and research. Before you go to the bank, you want to sort your personal finances and find your net worth.

Use the three steps as we did with Cindy ( read the materials provided) as additional attachment to launch your own imaginary startup company.

Identify which of the following items are your assets and liabilities: Step 1

Determine your net worth: Step 2

Analyze and interpret the information: Step 3

SOLUTION