Problem: Bookkeeping Project
Scenario: Background
Basswood Furniture is owned and operated by Ian Smith as a sole proprietorship. Ian rents a storefront/gallery at 124 River Lane in Hemlock, PA, 18951. The store is open Monday through Friday from 8 a.m. to 7 p.m. He has been in business for almost two years now. He specializes in creating custom furniture according to client specifications. The furniture is delivered and installed, if necessary, in the client's home or business.
Ian has hired you to be a full-charge bookkeeper effective December 1. The previous bookkeeper left unexpectedly in November due to medical problems. Your wage will be $15.00/hour. Since the other bookkeeper left, Ian has been trying to get by with paying bills, employees, etc. However, he isn't a trained bookkeeper. He needs someone who can get up to speed quickly doing the books manually (Ian doesn't have accounting software), who understands bookkeeping intimately and is able to correct anything he has done in error, and who can maintain his books accurately in the future.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.