Develop a business for
manufacturing candles -

• · Explain how to account for the acquisition and utilization of
  plant assets.
• · Demonstrate proper accounting for payroll.
• · Discuss how to account for long-term liabilities.
• · Demonstrate proper accounting for investments.
• · Recognize ethical issues related to recording, protecting, and
  reporting accounting information

Develop a corporation chart of accounts, taking into consideration
the following:

• 
  Capital structure (debt and or equity)
• 
  Employees with associated payroll accounts
• 
  Tangible plant assets with associated depreciation accounts

There should be a minimum of 4 employees and at least 3 tangible
assets. The corporation is a merchandising operation, so you will need to
consider the necessary accounts.

Develop the first month’s transactions. Prepare the first month’s
journal entries based on your chart of accounts. You will need to determine and
explain your choice of depreciation method, choice of debt structure, and
consider the rates of pay for the employees.

In your narrative, discuss how ethics is related to a company
having a chart of accounts. What kinds of internal controls might be helpful in
your particular company? List a minimum of 3 internal controls.