Business Finance Homework Help

Part 1: Starting the New Company. Let’s
briefly recap the company. BODY ART specializes in high quality aesthetic body
art with sterile equipment. Before beginning any tattoo work, customers watch a
brief consultation video from a dermatologist describing the process and cost
of reversing their decisions. The new manager of the store buys tattoo designs
and also creates custom designs for patrons with special requests. Most patrons
choose from a stock of designs purchased from other artists. Her assistant
completes much of the tattoo work. In
stock designs are entered as inventory items, with prices based on size and
complexity. Temporary tattoos are also available. The ink used for tattoos is
charged to customers as inventory sales. The tattoo application and custom
design work are charged as services on the basis of time. All ledgers are used.