After researching the different forms of business organization. Sheridan 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. Nov. 8 Sheridan cashes her U.S. Savings Bonds and receives $420, which she deposits in her personal bank account. 8 She opens a bank account under the name "Cookie Creations" and transfers $400 from her personal account to the new account. 11 Sheridan pays $50 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $100 cash. (Hint: Use Supplies account) 14 Sheridan 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 $600. Sheridan decides to start using it only in her new business. She estimates that the equipment is currently worth $240. She invests the equipment in the business. 16 Sheridan realizes that her initial cash imvestment is not enough. Her grandmother lends her $1,600 cash. for which Sheridan signs a note payable in the name of the business. Sheridan deposits the money in the business bank account. 11 Sheridan pays $50 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $100 cash. (Hint: Use Supplies account.) 14 Sheridan 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 $600. Sheridan decides to start using it only in her new business. She estimates that the equipment is currently worth $240. She invests the equipment in the business. 16 Sheridan realizes that her initial cash investment is not enough. Her grandmother lends her $1,600 cash, for which Sheridan signs a note payable in the name of the business. Sheridan 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 $720 cash. +20 She teaches her first class and collects $100 cash. 25 Sheridan books a second class for December 4 for $120. She receives $20 cash in advance as a down payment. 30 Sheridan pays $1,060 for a one-year insurance policy that will expire on December 1,2022. Prepare a trial balance at November 30 . Question 1 of 1 0.36/1 Equipmen: 600 De De Totals eTextbook and Media After researching the different forms of business organization. Sheridan 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. Nov. 8 Sheridan cashes her U.S. Savings Bonds and receives $420, which she deposits in her personal bank account. 8 She opens a bank account under the name "Cookie Creations" and transfers $400 from her personal account to the new account. 11 Sheridan pays $50 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $100 cash. (Hint: Use Supplies account) 14 Sheridan 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 $600. Sheridan decides to start using it only in her new business. She estimates that the equipment is currently worth $240. She invests the equipment in the business. 16 Sheridan realizes that her initial cash imvestment is not enough. Her grandmother lends her $1,600 cash. for which Sheridan signs a note payable in the name of the business. Sheridan deposits the money in the business bank account. 11 Sheridan pays $50 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $100 cash. (Hint: Use Supplies account.) 14 Sheridan 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 $600. Sheridan decides to start using it only in her new business. She estimates that the equipment is currently worth $240. She invests the equipment in the business. 16 Sheridan realizes that her initial cash investment is not enough. Her grandmother lends her $1,600 cash, for which Sheridan signs a note payable in the name of the business. Sheridan 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 $720 cash. +20 She teaches her first class and collects $100 cash. 25 Sheridan books a second class for December 4 for $120. She receives $20 cash in advance as a down payment. 30 Sheridan pays $1,060 for a one-year insurance policy that will expire on December 1,2022. Prepare a trial balance at November 30 . Question 1 of 1 0.36/1 Equipmen: 600 De De Totals eTextbook and Media