Question

ACC105

Discussion Board Forum: Chapter 4

1. The name of my new business will be "Alexa Laundry & Dry Cleaning Services".

2. I will sell/provide service of "Laundry and Dry cleaning".

3. It will be a brick and mortar store.

4. Following two type of policies will be put in place by me in "Alexa Laundry & Dry Cleaning Services":

a. Discounts offer;

b. Shipping.

List 3 items you will need to run your business and then categorize each of those items as a Fixed Asset or a Current Expense (or if it makes sense an Intangible Asset).

Answer 1

1. Rental Expense will be incurred as it will be a brick and mortar store - Current Expense

2. Equipment for Dry Cleaning and Laundry - Fixed Asset

3. Washing powder and other variable cost incurred - Current Expense