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After researching the different forms of business organization, Natalie Koebel decides to operate Cookie Creations as a proprietorship. She then starts the process of
After researching the different forms of business organization, Natalie Koebel decides to operate "Cookie Creations" as a proprietorship. She then starts the process of getting the business running. In November 2021, the following activities take place. The following trial balance for November 30. COOKIE CREATIONS Trial Balance November 30 Debit Credit Cash $860 Supplies 155 Prepaid Insurance 1,610 Equipment 1,500 Unearned Service Revenue $40 Notes Payable Owner's Capital 3,000 1,010 Service Revenue Advertising Expense Totals $4,205 $4,205 155 80 Nov. 8 Natalie cashes her U.S. Savings Bonds and receives $630, which she deposits in her personal bank account. She opens a bank account under the name "Cookie Creations" and transfers $610 from her personal account to the new account. 11 Natalie pays $80 for advertising.
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