Cookies, Cakes & Crumbs Bakery (CC& C) ended its first year of operations on December 31, 2015.

Question:

Cookies, Cakes & Crumbs Bakery (CC& C) ended its first year of operations on December 31, 2015. During 2015, the following transactions occurred:
January 10: The owners of CC& C invested $ 200,000 (the of the stock) and acquired 20,000 shares of common stock.
March 15: CC& C purchased equipment in the amount of $ 48,000 on credit account with the vendor.
April 12: CC& C purchased supplies in the amount of $ 24,000 and paid cash.
May 31: CC& C collected $ 82,000 in sales revenue for the month, all of which was paid in cash. Ignore Cost of Goods Sold.
June 15: CC& C paid employees $ 22,000 in cash for wages.
July 31: CC& C purchased supplies in the amount of $ 16,000 on credit account with the supplier.
September 30: CC& C paid the balance due to the equipment vendor for the purchase made on March 15.
November 10: CC& C paid the balance due to the supplier for the purchase made on July 31.
November 30: CC& C recorded sales revenue in the amount of $ 216,000, half on credit and the other half paid in cash. Ignore Cost of Goods Sold.
December 20: The customers who owed CC& C for the November 30 purchases paid their balances in full with cash.
CC& C uses the following chart of accounts:
Assets
100 Cash
101
102 Supplies
111 Equipment
Liabilities
200
Stockholders’ Equity 300
Revenues
400 Sales Revenue
Expenses
503 Wage Expense
Prepare the journal entries in the general journal format for CC& C’s transactions using appropriate account numbers. Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...