In May, i started a new business with only $10,000 cash. i am very excited about my new venture, but it has also been keeping me very busy. It is now June and i am running short on cash, which is concerning. In fact, i have no idea how my new company is performing financially. i have never even taken an accounting course before.

i decided to hire an accountant to help me with my bookkeeping. The accountant has requested some information to help them prepare financial information. Due to COVID-19 social distancing rules you are not allowed to meet in the office. Instead i will have to communicate via email. The following is the email request from me to new accountant.

Dear Client,

Congratulations on your new venture! Thank you for choosing Kontur and Associates as your accounting firm. Please provide us the following information so that we may assist you in compiling the following financial statements for last month:

• Income Statement
• Balance Sheet
• Statement of Changes in Equity

In order to assist you please provide us with the following information:

• The name and brief description of your operations and structure of your business.
• Description of all the transactions for the month of May.

We look forward to hearing back from you.

Sincerely,

Anita Bean Kontur, CPA

Instructions

Phase 1: Business Owner (5%)

As the business owner please respond to Ms. Kontur's email providing her the following information:

1. A description of your business , including the name, type of business and structure / form of your business.
2. A description of all the business activity for the month including the dollar amounts. The activity must comprise of:

• 6 operating activities
• 3 investing activities
• 3 financing activities