22 rag to the Favorites Bar folder. Or import from another browser. Import favorites A trial balance is presented below for November 30, 2018, Credit COOKIE CREATIONS Trial Balance November 30, 2018 Debit Cash $245 Supplies 125 Prepaid Insurance 1,320 Equipment 1.200 Unearned Service Revenue Notes Payable Common Stock Service Revenue Advertising Expense 65 $2.955 $30 2,000 800 125 $2,955 It is the end of November and Natalie has been in touch with her grandmother. Her grandmother asked Natalie how well things went in her first month of business. Natalie, too, would like to know if the company has been profitable or not during November. Natalie realizes that in order to determine Cookie Creations' income, she must first make adjustments. Natalie puts together the following additional information 1. A count reveals that $35 of baking supplies were used during November. go 401 PM 5/21/2020 a rag to the Favorites Bar folder. Or import from another browser. Import favorites 1. A count reveals that $35 of baking supplies were used during November. 2. Natalie estimates that all of her baking equipment will have a useful life of 5 years or 60 months. Assume Natalie decides to recorda full month's worth of depreciation, regardless of when the equipment was obtained by the business.) 3. Natalie's grandmother has decided to charge interest of 6% on the note payable extended on November 16. The loan plus interest is to be repaid in 24 months. (Assume that half a month of interest accrued during November.) 4. On November 30, a friend of Natalie's asks her to teach a class at the neighborhood school. Natalie agrees and teaches a group of 35 first-grade students how to make Santa Claus cookies. The next day, Natalie prepares an invoice for $300 and leaves it with the school principal. The principal says that he will pass the invoice along to the head office, and it will be paid sometime in December 5. Natalie receives a utilities bill for $45. The bill is for utilities consumed by Natalie's business during November and is due December 15. - Your answer is partially correct. Prepare the adjusting journal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 Supplies Expense $35 $35 Supplies $20 2. Nov. 30 Depreciation Expense $20 Accumulated Depreciation Equipment 401P 5/27/2020 O drag to the Favorites Bar folder. Or import from another browser. Import favorites Accumulated Depreciation Equipment $20 3. Nov. 30 Interest Expense Interest Payable 4. $300 Nov. 30 Accounts Receivable Service Revenue $300 5. Nov. 30 Utilities Expense $45 Accounts Payable $45 e Textbook and Media List of Accounts Your answer is partially correct Post the adjusting journal entries. (Post entries in the order of journal entries presented in the previous question.) Cash 4:02 PM 5/21/2021 Debit PUUTTILL Credit Balance Date Explanation Ref. Nov. 30 Balance 1,320 Equipment Debit Credit Balance Date Explanation Ref. Nov. 30 Balance 1,200 Accumulated Depreciation-Equipment Debit Credit Balance Date Explanation Ref. Nov. 30 $20 $20 Accounts Payable Debit Credit Balance Date Explanation Ref. Nov. 30 J2 $45 $45 Interest Payable Debit Credit Balance Date Explanation Ref. Nov. 30 J2 Unearned Service Revenue Debit Credit Balance Date Explanation Ref. Nov. 30 Balance V 30 Notes Payable Debit Credit Balance Date Explanation Ref. Nov. 30 Balance V 2.000 Common Stock Date. Explanation Ref. Debit Credit Balance g to the Favorites Bar folder. Or import from another browser. Import favorites Interest Expense Date Explanation Ref. Debit Credit Balance Nov. 30 J2 e Textbook and Media List of Accounts Your answer is partially correct. Prepare an adjusted trial balance. COOKIE CREATIONS Adjusted Trial Balance November 30, 2018 Debit Credit $ 245 $ Accounts Receivable $300 rag to the Favorites Bar folder. Or import from another browser. Import favorites COOKIE CREATIONS Adjusted Trial Balance November 30, 2018 Debit Credit cash 245 Accounts Receivable $300 Supplies 90 prepaid insurance 1.320 Equipment 1.200 Accumulated Depreciation Equipment 20 Accounts Payable 45 Interest Payable Unearned Service Revenue 30 Notes Payable 2.000 Common Stock $800 Service Revenue $425 Supplies Expense 35 Depreciation Expense 20 Interest Expense Totals eTextbook and Media List of Accounts o X Your answer is incorrect. Using the adjusted trial balance, calculate Cookie Creations net income or net loss for the month of November 2018 $ e Textbook and Media Assistance Used