Depends on if you're talking about a stock A500, or at least some expansions. I had thought you were dealing with a more expanded Amiga. (my bad)
The options on a stock A500 (AmigaOS1.3/1MB RAM) 1 floppy drive, are rather limited. Small files can be put on a 720kB PC floppy and read/write on the Amiga with CrossDOS (provided you can find a copy of the old 1.3 CrossDOS diskette) Large files... well, what are you going to do with a large file on an Amiga with an 880kB floppy and 1MB RAM, anyhow?
If you tossed some extra RAM, AmigaOS 2 or greater, and a SCSI controller into the Amiga side, though, a lot more possibilities open up...