(a) Should Natalie open a separate bank account for the business? Why or why not?(b) Natalie expects she will have to use her car to drive to people’s homes and to pick up supplies, but she also needs to use her car for personal reasons.

(a) Should Natalie open a separate bank account for the business? Why or why not?(b) Natalie expects she will have to use her car to drive to people’s 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?

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(c) What form of business organization—proprietorship, partnership, or corporation— do you recommend that Natalie use for her business? Discuss the benefits and weaknesses of each form that Natalie might consider.

(d) Will Natalie need accounting information? If yes, what information will she need and why? How often will she need this information?

(e) Identify specific asset, liability, revenue, and expense accounts that Cookie Creations will likely use to record its business transactions.

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