[answered] Legal Issues for Small Businesses Fall, 2016 Assignment #3

HI i need three assignments but they are related. let me know if you have any questions

Legal Issues for Small Businesses

 

Fall, 2016

 

Assignment #3 (Workbook)

 

(15 Points)

 

Assigned: September 28, 2016

 

Start-up Procedures

 

Based upon your recent assignments, you have good ideas as to initial start-up costs, costs for

 

equipment, advertising, and other related expenses. (Do not forget legal costs if you are

 

incorporating.) As our workbooks suggests, we need to project future income and costs. Most

 

businesses need a considerable period of time to ?get off the ground?. It is not unusual to lose

 

money during the course of the first year of operation.

 

Assignment:

 

Using your workbook as a guide and other sources prepare the following:

 

1. An estimate of anticipated monthly expenses. (I want more than total figure

 

expenditures ? list or itemize the expenses (rent, utilities, sales, supplies, salaries,

 

etc.). If this business is online, are you paying yourself a salary or deferred salary?

 

What about web costs, maintenance and set-up? Attorney fees for incorporation?

 

2. Provide an estimate of anticipated monthly income;

 

3. Optional ? An Excel spread sheet showing income and expenses for the first 12

 

months. Please estimate if this is a new or a newly formed business. (Some months

 

you may lose money and that is okay if there is careful planning and available

 

capital.)

 

4. Optional ? A chart showing both income and monthly expenses for the first 12

 

months;

 

A good business entrepreneur must be able to project and identify his or her future business

 

income and expenses. This assignment should help you prepare for your final project and should

 

be included in that paper.

 

Note: If you will be using start?up funds to help cover monthly expenses, include those funds

 

(on a monthly basis) in your response. As stated above, this information will be useful to you for

 

your final paper and for the ?real world? that awaits your business.

 

Due: October 5, 2016 by 6:30 p.m. - the start of class 2

 

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