The third and final part of the case project is due at the end of Unit 9. You will create a PowerPoint presentation with voiceover. The voiceover will be the narrative you would be presenting if this were a live presentation. You will, in essence, be making a presentation to your colleagues and instructor based primarily on your Unit 7 Case Paper. Your Unit 7 Assignment, part 2 of the case study, will be the beginning point for your PowerPoint presentation. Begin with a brief introduction on the introductory slide. Then, using your Unit 7 Case Study Assignment Part 2 as the basis, build a PowerPoint presentation that includes all required components of the appropriate textbook continuing case problems. In addition to the original requirements for the Unit 7 Case Part 2, the Unit 9 Case PowerPoint presentation will require additional, new content. CC11 from the textbook, Part 1 (a), is a new requirement. Incorporate your answers to those three new questions in addition to the CC problems of the Unit 7 paper. The case project spans Unit 4, Unit 7, and Unit 9. For the case project, you are to complete a series of Continuing Problems from company progressive narratives in the textbook end-of-chapter resources in your textbook. Those continuing problems involve a series of business issues related to the Cookie Creations company. The third and final part of the case study is due at the end of Unit 9. You will create a PowerPoint presentation with voiceover. (Steps for creating a PowerPoint voiceover are presented at the end of this document). The voiceover will be the narrative you would be presenting if this were a live presentation. You will, in essence, be making a presentation to your colleagues and instructor. Your Unit 7 Assignment, part 2 of the case study, will be the beginning point for your PowerPoint presentation. Begin with a brief introduction on the introductory slide. Then, using your Unit 7 Case Study Assignment as the basis, build a PowerPoint presentation that discusses all required components of the appropriate textbook Continuing Case problems. In addition to the requirements for the Unit 7 Case Part 2, the Unit 9 Case PPT will require additional content. CC11 from the textbook, Part 1 (a) is a new requirement. Incorporate your answers to those three questions. Assume that your colleagues are your audience and they have not read the Unit 7 Case you completed in part 2 of the project. Even though this will be a brief presentation, it should include all essential information and data in condensed format. This aspect of the presentation would provide the proper perspective they need to make informed decisions. Include a summary slide immediately before your references slide. Be sure to review the grading rubric (at the end of this document) before submitting your Assignment to ensure optimum assessment! The PowerPoint presentation must include a minimum of 12 and a maximum of 14 slides. The first slide must be a title slide, and the final slide must be your reference list. The audio presentation itself (voiceover) should be 1215 minutes long. In addition to recording the voiceover, the text (or script) of your voiceover must be written into the Notes section of each slide. Proper grammar and spelling will be an important part of the Assignment. Be sure to perform a spell check. Remember this very important presentation technique Do not present slides that contain too much information. Keep the slides clean and uncluttered by using bullet points. The Notes section allows you to provide as much content and details about the presentation as are needed. The slides should also be designed to serve as the basis for the voiceover narrative. That is, the slides should simply be an outline or platform from which you launch your full presentation. CCC1 Natalie Koebel spent much of her childhood learning the art of cookie-making from her grand mother. They spent many happy hours mastering every type of cookie imaginable and later devised new recipes that were both healthy and delicious. Now at the start of her second year in college, Natalie is investigating possibilities for starting her own business as part of the entrepreneurship program in which she is enrolled. A long-time friend insists that Natalie has to include cookies in her business plan. After a series of brainstorming sessions, Natalie settles on the idea of operating a cookie-making school. She will start on a part-time basis and offer her services in peoples homes. Now that she has started thinking about it, the possibilities seem endless. During the fall, she will concentrate on holiday cookies. She will offer group sessions (which will probably be more entertainment than education) and individual lessons. Natalie also decides to include children in her target market. The first difficult decision is coming up with the perfect name for her business. She settles on Cookie Creations, and then moves on to more important issues. Instructions What form of business organizationproprietorship, partnership, or corporation do you recommend that Natalie use for her business? Discuss the benefits and weaknesses of each form that Natalie might consider. Will Natalie need accounting information? If yes, what information will she need and why? How often will she need this information? Identify specific asset, liability, revenue, and expense accounts that Cookie Creations will likely use to record its business transactions. Should Natalie open a separate bank account for the business? Why or why not? Natalie expects she will have to use her car to drive to peoples homes and to pick up supplies, but she also needs to use her car for personal reasons. She recalls from her first-year accounting course something about keeping business and personal assets separate. She wonders what she should do for accounting purposes. What do you recommend? CCC2 After investigating the different forms of business organization, Natalie Koebel decides to operate her business as a corporation, Cookie Creations Inc., and she begins the process of getting her business running. While at a trade show, Natalie is introduced to Gerry Richards, operations manager of Biscuits, a national food retailer. After much discussion, Gerry asks Natalie to consider being Biscuits major supplier of oatmeal chocolate chip cookies. He provides Natalie with the most recent copy of the financial statements of Biscuits. He expects that Natalie will need to supply Biscuits Watertown warehouse with approximately 1,500 dozen cookies a week. Natalie is to send Biscuits a monthly invoice, and she will be paid approximately 30 days from the date the invoice is received in Biscuits Chicago office. Natalie is thrilled with the offer. However, she has recently read in the newspaper that Biscuits has a reputation for selling cookies and donuts with high amounts of sugar and fat, and as a result, consumer demand for the companys products has decreased. Instructions Natalie has several questions. Answer the following questions for Natalie. What type of information does each financial statement provide? What financial statements would Natalie need in order to evaluate whether Biscuits will have enough cash to meet its current liabilities? Explain what to look for. What financial statements would Natalie need in order to evaluate whether Biscuits will be able to survive over a long period of time? Explain what to look for. What financial statements would Natalie need in order to evaluate Biscuits profitability? Explain what to look for. Where can Natalie find out whether Biscuits has outstanding debt? How can Natalie determine whether Biscuits would be able to meet its interest and debt payments on any debt it has? How could Natalie determine whether Biscuits pays a dividend? In deciding whether to go ahead with this opportunity, are there other areas of concern that Natalie should be aware of? CCC7 Part 1 Natalie is struggling to keep up with the recording of her accounting transactions. She is spending a lot of time marketing and selling mixers and giving her cookie classes. Her friend John is an accounting student who runs his own accounting service. He has asked Natalie if she would like to have him do her accounting. John and Natalie meet and discuss her business. John suggests that he do the following for Natalie. Hold onto cash until there is enough to be deposited. (He would keep the cash locked up in his vehicle). He would also take all of the deposits to the bank at least twice a month. Write and sign all of the checks. Record all of the deposits in the accounting records. Record all of the checks in the accounting records. Prepare the monthly bank reconciliation. Transfer all of Natalies manual accounting records to his computer accounting program. John maintains all of the accounting information that he keeps for his clients on his laptop computer. Prepare monthly financial statements for Natalie to review. Write himself a check every month for the work he has done for Natalie. Instructions Identify the weaknesses in internal control that you see in the system that John is recommending. (Consider the principles of internal control identified in the chapter.) Can you suggest any improvements if John is hired to do Natalies accounting? CCC8 One of Natalies friends, Curtis Lesperance, runs a coffee shop where he sells specialty coffees and prepares and sells muffins and cookies. He is eager to buy one of Natalies fine European mixers, which would enable him to make larger batches of muffins and cookies. However, Curtis cannot afford to pay for the mixer for at least 30 days. He asks Natalie if she would be willing to sell him the mixer on credit. Natalie comes to you for advice and asks the following questions. Curtis has provided me with a set of his most recent financial statements. What calculations should I do with the data from these statements, and how will the results help me decide if I should extend credit to Curtis? Is there an alternative other than extending credit to Curtis for 30 days? I am thinking seriously about permitting my customers to use credit cards. What are some of the advantages and disadvantages of letting my customers pay by credit card? The following transactions occurred in June through August. June. 1 After much thought, Natalie sells a mixer to Curtis on credit, terms n/30, for $1,100 (cost of mixer $600). 2 Natalie meets with the bank manager and arranges to get access to a credit card account. The terms of credit card transactions are 3% of the sales transactions and a monthly equipment rental charge of $75. 30 Natalie teaches 13 classes in June. Seven classes were paid for in cash, $1,050; the other six classes were paid for by credit card, $900. 30 Natalie receives and reconciles her bank statement. She makes sure that the bank has correctly processed the monthly $75 charge for the rental of the credit card equipment and the 3% fee on the credit card transactions. 30 Curtis calls Natalie. He is unable to pay the amount outstanding for another month, so he signs a one-month, 6% note receivable. July. 15 Natalie sells a mixer to a friend of Curtiss. The friend pays $1,100 for the mixer by credit card (cost of mixer $600). 30 Natalie teaches 16 classes in July. Eight classes are paid for in cash, $1,200; eight classes are paid for by credit card, $1,200. 31 Natalie reconciles her bank statement and makes sure the bank has recorded the correct amounts for the rental of the credit card equipment and the credit card sales. 31 Curtis calls Natalie. He cannot pay today but hopes to have a check for her at the end of the week. Natalie accrues July interest. Aug. 10 Curtis calls again and Natalie agrees to extend the note to two months. Curtis will repay the note on August 31, including interest for 2 months. 31 Natalie receives a check from Curtis in payment of his balance plus interest outstanding. Instructions Answer Natalies questions. Prepare journal entries for the transactions that occurred in June, July, and August. The company uses a perpetual inventory system. CCC11 Part 1 Because Natalie has been so successful with Cookie Creations and Curtis has been just as successful with his coffee shop, they both conclude that they could benefit from each others business expertise. Curtis and Natalie next evaluate the different types of business organization, and because of the advantage of limited personal liability, decide to form a new corporation. Curtis has operated his coffee shop for 2 years. He buys coffee, muffins, and cookies from a local supplier. Natalies business consists of giving cookie-making classes and selling fine European mixers. The plan is for Natalie to use the premises Curtis currently rents as a location for her cookie-making classes and demonstrations of the mixers that she sells. Natalie will also hire, train, and supervise staff hired to bake cookies and muffins sold in the coffee shop. By offering her classes on the premises, Natalie will save on travel, and the coffee shop will provide one central location for selling the mixers. Combining forces will also allow Natalie and Curtis to pool their resources and buy a few more assets to run their new business venture. The current market values of the assets of both businesses are as follows. Description Curtis Coffee Cookie Creations Cash $ 7,500 $12,000 Accounts receivable 100 500 Merchandise inventory 450 1,130 Equipment 2,500 1,000 $10,550 $14,630 Curtis and Natalie meet with a lawyer and form their corporation, called Cookie & Coffee Creations Inc., on November 1, 2024. The new corporation is authorized to issue 50,000 shares of $1 par common stock and 10,000 shares of no par, $6 cumulative preferred stock. The assets held by each business will be transferred into the corporation at current market value of $1 per share. Curtis will receive 10,550 common shares, and Natalie will receive 14,630 common shares in the corporation. Natalie and Curtis are very excited about this new business venture. They come to you with the following questions. Curtis dad and Natalies grandmother are interested in investing $5,000 each in the new business venture. Curtis and Natalie are considering issuing them preferred shares. What would be the advantage of issuing them preferred stock instead of common? What would be the advantages and disadvantages of issuing cumulative preferred? Our lawyer sent us a bill for $750. When we talked the bill over with her, she said she would be willing to receive common stock in our corporation instead of cash. We would be happy to issue her stock, but were worried about accounting for this transaction. Can we do this? If so, how do we determine how many shares to give her? Instructions Answer Natalie and Curtis questions. Prepare the journal entries required on November 1, 2024, the date when Natalie and Curtis transfer the assets of their respective businesses into Cookie & Coffee Creations Inc. Assume that Cookie & Coffee Creations Inc. issues 1,000 $6 cumulative preferred shares to Curtis Dad and the same number to Natalies grandmother, in both cases for $5,000. Also assume that Cookie & Coffee Creations Inc. issues 750 common shares to its lawyer. Prepare the journal entries required for each of these transactions that also occurred on November 1. Prepare the opening balance sheet for Cookie & Coffee Creations Inc. as of November 1, 2024, including the journal entries in (b) and (c) above.