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 2009, the following activities take place. November Transactions Nov. 8 Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. 8 She opens a bank account under the name ?Cookie Creations? and transfers $500 from her personal account to the new account. 11 Natalie pays $165 to have advertising brochures and posters printed. She plans to distribute these as opportunities arise. (Hint: Use Advertising Supplies.) 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash. 14 Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $750. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300. She invests the equipment in the business. 16 Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $2,000 cash, for which Natalie signs a note payable in the name of the business. Natalie deposits the money in the business bank account. (Hint: The note does not have to be repaid for 24 months.As a result,the note payable should be reported in the accounts as the last liability and also on the balance sheet as the last liability.) 17 She buys more baking equipment for $900 cash. 20 She teaches her first class and collects $125 cash. 25 Natalie books a second class for December 4 for $150. She receives $30 cash in advance as a down payment. 30 Natalie pays $1,320 for a one-year insurance policy that will expire on December 1, 2010. Instructions (a) Use the journal template provided and prepare journal entries to record the November transactions. Remember to use correct journal entry formatting. (b) Post the journal entries to general ledger accounts. Remember to use correct posting references. Also, note that we do not use descriptions in the ledger account "description" column for regular journal entry postings. (c) Prepare a trial balance at November 30. Be sure to total the columns of your trial balance. Do NOT include accounts that do not have a ledger balance. (d) Submit your completed CCC2 file to the dropbox for grading and feedback. (e) Make noted corrections before beginning CCC3. Chapter 3 - CCC3 Open your corrected CCC2 file. Complete the required CCC3 activities. Note: For transaction 3, round depreciation to the nearest dollar. 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 she 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 $60 of brochures and posters remain at the end of November. 2. A count reveals that $35 of baking supplies were used during November. 3. Natalie estimates that all of her baking equipment will have a useful life of 5 years or 60 months. (Assume Natalie decides to record a full month?s worth of depreciation, regardless of when the equipment was obtained by the business.) 4. 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.) 5. 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. 6. Natalie receives a cellphone bill for $45. She uses her cellphone only for business. The bill is for services provided during November and is due December 15. Instructions Using the information that you have gathered through Chapter 2, and based on the new information above, do the following. (a) Prepare and post the adjusting journal entries using the general journal template provided. Again, remember to use correct formatting in both the journal and the ledger. (b) Prepare an adjusted trial balance using the correct worksheet in your template workbook. Be sure to total the columns of your ATB and include only those accounts that have a balance. (c) Using the adjusted trial balance, calculate Cookie Creations? net income or net loss for the month of November. You are not required to prepare an income statement. (d) Submit the file to the dropbox for grading and feedfback. (e) Review the feedback provided and make necessary corrections before moving on to CCC4. Chapter 4 - CCC4 Open your corrected CCC3 file. Complete the required activities for CCC4. Note that this is a rather difficult problem. You are asked to prepare financial statements and prepare and post closing entries, but you were not given the specific transactions for December. Instead, you are given the Adjusted Trial Balance for Dec. 31. I recommend that you take the balances on the ATB and write them in the correct ledger accounts. Just make a note to yourself in each ledger that this is the "Dec. 31 balance." Of course, if we were REALLY doing a set of books, we would have posted the entries for Dec. and this wouldn't be necessary. Natalie had a very busy December.At the end of the month,after journalizing and posting the December transactions and adjusting entries. Natalie prepared the following adjusted trial balance. COOKIE CREATIONS Adjusted Trial Balance December 31, 2009 Debit Credit Cash $1,180 Accounts Receivable 875 Baking Supplies 350 Prepaid Insurance 1,210 Baking Equipment 1,200 Accumulated Depreciation - Baking Equipment $ 40 Accounts Payable 75 Salaries Payable 56 Interest Payable 15 Unearned Revenue 300 Notes Payable 2,000 N. Koebel, Capital 800 N. Koebel, Drawing 500 Teaching Revenue 4,515 Salaries Expense 1,006 Telephone Expense 125 Advertising Supplies Expense 165 Baking Supplies Expense 1,025 Depreciation Expense 40 Insurance Expense 110 Interest Expense 15 $7,801 $7,801 Instructions: Using the information in the adjusted trial balance, do the following. (a) Prepare an income statement and a statement of owner?s equity for the 2 months ended December 31, 2009, and a classified balance sheet as at December 31, 2009. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2011. (b) Natalie has decided that her year-end will be December 31, 2009. Prepare and post closing entries as of December 31, 2009. (c) Prepare a post-closing trial balance. (d) Submit your file to the dropbox for grading and feedback. (e) Make necessary corrections based on the feedback you receive before going on to CCC5. Chapter 5 - CCC5 Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is the sale of fine European mixers. The owner of Kzinski Supply Co. has approached Natalie to become the exclusive distributor of these fine mixers in her state. The current cost of a mixer is approximately $575, and Natalie would sell each one for $1,150. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be easily identified. In the end, Natalie decides to use the perpetual inventory system to track her inventory. The following transactions happen during the month of January. Date Transaction Jan 4 Bought five deluxe mixers on account from Kzinski Supply Co. for $2,875, FOB shipping point, terms n/30. 6 Paid $100 freight on the January 4 purchase. 7 Returned one of the mixers to Kzinski because it was damaged during shipping. Kzinski issues Cookie Creations credit for the cost of mixer plus $20 for the cost of freight that was paid on January 6 for one mixer 8 Collected $375 of the accounts receivable from December 2009. 12 Three deluxe mixers are sold on account for $3,450, FOB destination, terns n/30. (Cost of goods sold is $595 per mixer.) 14 Paid the $75 of delivery charges for the three mixers that were sold on January 12. 14 Bought four deluxe mixers on account from Kzinski Supply Co. for $2,300, FOB ship ping point, terms n/30. 17 Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She invests an additional $1,000 cash in Cookie Creations. 18 Paid $80 freight on the January 14 purchase 20 Sold two deluxe mixers for $2,300 cash. (Cost of goods sold is $595 per mixer.) 28 Natalie issued a check to her assistant for all the help the assistant has given her during the month. Her assistant worked 20 hours in January and is also paid the $56 owed at December 31, 2009. (Natalie?s assistant earns $8 an hour.) 28 Collected the amounts due from customers for the January 12 transaction. 30 Paid a $145 cellphone bill ($75 for the December 2009 account payable and $70 for the month of January). (Recall that the cellphone is used only for business purposes.) 31 Paid Kzinski all amounts due. 31 Natalie withdrew $750 cash for personal use. As of January 31, the following adjusting entry data is available. 1. A count of baking supplies reveals that none were used in January. 2. Another month?s worth of depreciation needs to be recorded on the baking equipment bought in November. (Recall that the baking equipment has a useful life of 5 years or 60 months and no salvage value.) 3. An additional month?s worth of interest on her grandmother?s loan needs to be accrued. (The interest rate is 6%.) 4. During the month, $110 of insurance has expired. 5. An analysis of the unearned revenue account reveals that Natalie has not had time to teach any of these lessons this month because she has been so busy selling mixers. As a result, there is no change to the unearned revenue account. Natalie hopes to complete the remaining lessons in February. 6. An inventory count of mixers at the end of January reveals that Natalie has three mixers remaining. Instructions Using the information from previous chapters and the new information above, do the following. (a) Prepare and post the January 2010 transactions. (b) Prepare a trial balance. (c) Prepare and post the adjusting journal entries required. (d) Prepare an adjusted trial balance. (e) Prepare a multiple-step income statement for the month ended January 31, 2010.

General Journal Date Description Page 1 Post. Ref. Debit Credit 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 General Journal Date 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Description Page 2 Post. Ref. Debit Credit General Ledger Account : Cash Account Number: 101 Post . Dat e It e m Re f. To Chart of Accounts Account : Accounts Receivable Cre dit It e m Re f. Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit Re f. De bit Cre dit Post . Re f. De bit Cre dit De bit Cre dit De bit Cre dit Re f. Re f. Cre dit De bit Cre dit Re f. BALANCE De bit Cre dit To Chart of Accounts Account : Prepaid Insurance Account Number: 106 Post . Dat e It e m 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense Account Number: 105 Post . It e m De bit BALANCE To Chart of Accounts Account : Baking Supplies Dat e Cre dit Account Number: 104 Post . It e m 102 BALANCE To Chart of Accounts Account : Advertising Supplies Dat e De bit 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense Account Number: 103 Post . It e m Cre dit BALANCE De bit To Chart of Accounts Account : Merchandise Inventory Dat e De bit Account Number: Post . Dat e Chart of Accounts (click the link to go to that account in the ledger) BALANCE De bit Re f. BALANCE De bit Cre dit 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense To Chart of Accounts Account : Baking Equipment Account Number: 107 Post . Dat e It e m Re f. BALANCE To Chart of Accounts Account : Accumulated Depreciation - Baking Equipment It e m BALANCE To Chart of Accounts Account : Accounts Payable Dat e It e m Re f. De bit Cre dit Account Number: 203 Post . It e m BALANCE De bit Cre dit BALANCE To Chart of Accounts Account : Unearned Revenue Dat e Cre dit Account Number: 202 Post . It e m De bit Account Number: 201 To Chart of Accounts Account : Interest Payable Dat e Cre dit Account Number: 108 Post . Dat e De bit Re f. BALANCE De bit Cre dit To Chart of Accounts Account : Notes Payable Account Number: 204 Post . Dat e It e m Re f. BALANCE De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit De bit Cre dit To Chart of Accounts Account : Salaries Payable It e m Re f. BALANCE To Chart of Accounts Account : N Koebel Capital It e m Re f. Re f. Re f. Re f. Re f. Re f. Re f. Re f. Re f. Re f. Re f. Re f. Re f. De bit Cre dit Account Number: 509 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Telephone Expense Dat e De bit Account Number: 508 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Salaries Expense Dat e De bit Account Number: 507 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Interest Expense Dat e De bit Account Number: 506 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Insurance Expense Dat e De bit Account Number: 505 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Freight Out Dat e De bit Account Number: 504 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Depreciation Expense Dat e De bit Account Number: 503 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Baking Supplies Expense Dat e De bit Account Number: 502 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Advertising Supplies Expense Dat e De bit Account Number: 501 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Cost of Goods Sold Dat e De bit Account Number: 4 02 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Sales Dat e De bit Account Number: 4 01 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Teaching Revenue Dat e De bit Account Number: 350 Post . It e m Cre dit BALANCE To Chart of Accounts Account : Income Summary Dat e De bit Account Number: 302 Post . It e m Cre dit BALANCE To Chart of Accounts Account : N Koebel Drawings Dat e De bit Account Number: 301 Post . Dat e Cre dit Account Number: 205 Post . Dat e De bit Re f. BALANCE De bit Cre dit 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense 101 - Cash 102 - Accounts Receivable 103 - Merchandise Inventory 104 - Advertising Supplies 105 - Baking Supplies 106 - Prepaid Insurance 107 -Baking Equipment 108 - Accumulated Depreciation - Baking Equipment 201 - Accounts Payable 202 - Interest Payable 203 - Unearned Revenue 204 - Notes Payable 205 - Salaries Payable 301 - N. Koebel, Capital 302 - N. Koebel, Drawing 350 - Income Summary 4 01 - Teaching Revenue 4 02 - Sales 501 - Cost of Goods Sold 502 - Advertising Supplies Expense 503 - Baking Supplies Expense 504 - Depreciation Expense 505 - Freight Out 506 - Insurance Expense 507 - Interest Expense 508 - Salaries Expense 509 - Telephone Expense (c) COOKIE CREATIONS Trial Balance 11/30/20___ Debit Cash Advertising Supplies Baking Supplies Prepaid Insurance Baking Equipment Unearned Revenue Note Payable N. Koebel, Capital Teaching Revenue Credit (b) COOKIE CREATIONS Adjusted Trial Balance 11/30/20___ Account Cash Accounts Receivable Advertising Supplies Baking Supplies Prepaid Insurance Baking Equipment Accumulated Depreciation - Baking Equipment Accounts Payable Interest Payable Unearned Revenue Note Payable N. Koebel, Capital Teaching Revenue Telephone Expense Advertising Supplies Expense Baking Supplies Expense Depreciation Expense Interest Expense Totals Debit Credit Net Income/Loss Calculation Revenue Expenses Net Income/Loss Cookie Creations Balance Sheet December 31, 20___ Assets Current Assets Total Current Assets Property, Plant, and Equipment Total Assets Liabilities and Owner's Equity Current Liabilities Total Current Liabilities Long-Term Liabilities Total long-term liabilities Total liabilities Owner's Equity Total liablities and owners equity COOKIE CREATIONS Income Statement For the Two Months Ended December 31, 20___ COOKIE CREATIONS Statement of Owner's Equity For the Two Months Ended December 31, 2007 COOKIE CREATIONS Post-Closing Trial Balance 12/31/20___ Debit Credit CCC5 Responses to Natalie's questions 1. 2. 3. (c) COOKIE CREATIONS Trial Balance 1/31/20___ Debit Credit CCC5 (e) COOKIE CREATIONS Adjusted Trial Balance 1/31/20___ Debit Credit CCC5 (f) COOKIE CREATIONS Income Statement For the Month Ended January 31, 20___