CALCULATOR FULL SCREEN PA Cookie Creations 03 a1-c (Part Level Submission) After researching the different forms of business organization, Natalie Koebel decides to operate "Cookie Creations" as a proprietorship. She then starts business running. In November 2019, the following activities take place. 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 $65 for advertising. 13 She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash. (Hint: Use Supplies account.) 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 process 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 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 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 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 $1320 for a one-year insurance policy that will expire on December 1, 2019. 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 busines 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 adjustm Natalie puts together the following additional information. 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 Natale decides to record a full month's worth of de when the equipment was obtained by the business.) CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT -c (Part Level Submission) erent forms of business organization, Natalie Koebel decides to operate "Cookie Creations" as a proprietorship. She then starts the process of getting the amber 2019, the following activities take place. U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. Kaccount under the name "Cookie Creations and transfers $500 from her personal account to the new account. for advertising supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash. (Hint: Use Supplies account.) 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 atalie 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 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 hey 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 and also on the balance sheet as the last liability) paking equipment for $900 cash. first class and collects $125 cash. second class for December 4 for $150. She receives $30 cash in advance as a down payment. 20 for a one-year insurance policy that will expire on December 1, 2019 er 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 een profitable or not during November. Natalie realizes that in order to determine Cookie Creations income, she must first make adjustments following additional information. $35 of baking supplies were used during November. t 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 was obtained by the business.) signment > Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION 25 Natalie books a second class for December 4 for $150. She receives $30 cash in advance as a down payment. 30 Natalie pays $1320 for a one-year insurance policy that will expire on December 1, 2019. 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. N 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 $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 record a full month's worth of depre when the equipment was obtained by the business.) 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. 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 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 hec 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. Using the information that you have gathered through Chapter 2, and based on the new information above, do the following ment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT class for December 4 for $150. She receives $30 cash in advance as a down payment. a one-year insurance policy that will expire on December 1, 2019. 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 rofitable or not during November. Natalie realizes that in order to determine Cookie Creations' income, she must first make adjustments. ewing additional information. of baking supplies were used during November 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 obtained by the business.) s 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 during November.) d 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 gingerbread atalie 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 cember s bill for $45. The bill is for utilities consumed by Natalie's business during November and is due December 15. you have gathered through Chapter 2, and based on the new information above, do the following mal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) d Explanation Debit Credit CALCULATOR FULL SCREEN PRI (al) Prepare the adjusting journal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Credit Debit Account Titles and Explanation 1. Nov. 30 2. Nov. 30 3. Nov. 30 4. Nov. 30 5. Nov. 30 Click if you would like to Show Work for this question: Open Show Work