Question
CCC4 Cookie Creations is gearing up for the winter holiday season. During the month of December 2014, the following transactions occur. Dec. 1 Natalie hires
CCC4 Cookie Creations is gearing up for the winter holiday season. During the month of December 2014, the following transactions occur.
Dec. 1 Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some administrative duties.5 Natalie teaches the class that was booked on November 25. The balance outstanding is received.8 Cookie Creations receives a check for the amount due from the neighborhood school for the class given on November 30.9 Cookie Creations receives $750 in advance from the local school board for five classes that the company will give during December and January.15 Pays the cell phone invoice outstanding at November 30.16 Issues a check to Natalies brother for the amount owed for the design of the website.19 Receives a deposit of $60 on a cookie class scheduled for early January.23 Additional revenue during the month for cookie-making classes amounts to $4,000. (Natalie has not had time to account for each class individually.) $3,000 in cash has been collected and $1,000 is still outstanding. (This is in addition to the December 5 and December 9 transactions.)23 Additional baking supplies purchased during the month for sugar, flour, and chocolate chips amount to $1,250 cash.23 Issues a check to Natalies assistant for $800. Her assistant worked approximately 100 hours from the time in which she was hired until December 23.28 Pays a dividend of $500 to the common shareholder (Natalie).
Chapter 4, Part A, journalize the transactions |
Chapter 4, Part B, post the December transactions to the general ledger accounts |
Chapter 4, Part C, prepare a trial balance at December 31, 2014 |
Chapter 4, Part D, prepare and post adjusting journal entries for December |
Chapter 4, Part E, prepare adjusted trial balance at December 31, 2014 |
Chapter 4, Part F, prepare an income statement, retained earning statement and balance sheet |
Chapter 4, Part G, prepare and post closing entires as of December 31, 2014 |
Chapter 4, Part H, prepare a post-closing trial balance |
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