Continuing Cookie Chronicle CCC4 Cookie Creations is gearing up for the winter holiday season. Duning the month of December 2017, the following transactions oocur Doo. Natalic hires an assistant at an hourty wage of $8 to hep with cockie making and som administrative duties 5 Natalie teaches the class that was booked on November 25. The balance outstanding is recerved 8 Cookie Creations receives a check for the amount duc from the neighborhood school for the dlass given on Navember 3u 9 Cookie Creations receives $750 in advance from the lccal school board for ive classes thet the company wil give during Decembar and January 15 Pays the cell phone invoice outstanding at November 30. 18 Issues a check to Natalie's brother for the amount awed for the design ef the webste. 18 Recaves a deposit of $60 on a cookde class scheduled for early January 23 Additicnal reverue during the month for cockie-making classes amcunts to 54,000 Natalie has nat had time to account for each class individuly.) 3,0O0 in cash has been colected and 31,000 is still outstanding. (This is in addition to the Decamber 5 and December 9 transactions.) 23 Additional baking supplies purchased during the month for sugar, four, and chooolate 23 Issues a check to Natalie's assistant for $800. Her assistant worked approximately 10O 28 Pays 8 dvidend of 5500 1o tha commaon shareholder (Natalie) chips amount to $1,250 cash. ours from the time in which she was hired unt December 23 The trial balance from November is shown below. COOKIE CREATIONS INC. Trial Balance November 30, 2017 340 300 Cash Accounts Receivable. Suppl Prepaid Insurance 1,200 1,200 600 3 650 60 2,000 803 400 Uncamed Service Rcvenue Notes Payable Service Revenue Utiaties Expense $391 3,910 As af December 31, Cookie Creatons year-end, the fallawing acjusting entry data are provided. 1. A count reveals that $45 of brochures and posters (suppies) were used 2. Depreciation is recorded on the baking equipment purchased in November. The baking equipment has a useful ife of 5 years. Assume that 2 months worth of depreciation is 3. Amortization (which is similar to depreciat on) is recorded on the website. (Credit the Website account directy for the amount of the amortization] The webaite is amortized over a useful life of 2 years and was available for use cn December 1 Interest on the note payable is accrued. (Assume that 1.5 months of interest acorued during November and December.) Raund to nearest dollar 4. 5. One months worth of insurance has expired Natalie is unexpeddecly telephoned an December 28 bo give a cookie cass at the neighborhaod community center on December 31. In early January Cookie Creations sends an invoice for $460 to the community center 7. A count reveals that $1,025 cf baking supples were used 8. A cell phone invoice is received for 75 The invoice is for services provided during the month of December and is due on January 15. 9. Because the cookie-making class occurred unexpectedly on December 31 and is for such a large group of children, Natalie's assistant helps out. Her assistant worloed 7 hours at a rate of $3 per hour 10. An analysis of the unearned revenue account reveals that two of the five classes paid for by the local school board an December 9 sill have not been taught by the end of December. The $60 deposit received on December 19 for anather ciass also remains uneamed Using the information gathered from above and from the November trial balance, do the following: (a) Journalze the above transactions. (b) Poet the December transactions (c) Prepare a trial balance at December 31, 2017 (d) Prepare and post adjusting journal entries for the month af December. (e) Prepare an adjusted trial balance as of December 31, 2017 ()Prepare an income statement and a retained eernings statement for the 2-month period ending December 31, 2017, and a classiied balance sheet as of December 31, 2017 (g) Prepare and post closing entries as af December 31, 2017 (n) Prepare a post-closing trial balance (c) Totals e) Totals Net income n)Totals 38,160 $8,804 33,211 6,065 Continuing Cookie Chronicle CCC4 Cookie Creations is gearing up for the winter holiday season. Duning the month of December 2017, the following transactions oocur Doo. Natalic hires an assistant at an hourty wage of $8 to hep with cockie making and som administrative duties 5 Natalie teaches the class that was booked on November 25. The balance outstanding is recerved 8 Cookie Creations receives a check for the amount duc from the neighborhood school for the dlass given on Navember 3u 9 Cookie Creations receives $750 in advance from the lccal school board for ive classes thet the company wil give during Decembar and January 15 Pays the cell phone invoice outstanding at November 30. 18 Issues a check to Natalie's brother for the amount awed for the design ef the webste. 18 Recaves a deposit of $60 on a cookde class scheduled for early January 23 Additicnal reverue during the month for cockie-making classes amcunts to 54,000 Natalie has nat had time to account for each class individuly.) 3,0O0 in cash has been colected and 31,000 is still outstanding. (This is in addition to the Decamber 5 and December 9 transactions.) 23 Additional baking supplies purchased during the month for sugar, four, and chooolate 23 Issues a check to Natalie's assistant for $800. Her assistant worked approximately 10O 28 Pays 8 dvidend of 5500 1o tha commaon shareholder (Natalie) chips amount to $1,250 cash. ours from the time in which she was hired unt December 23 The trial balance from November is shown below. COOKIE CREATIONS INC. Trial Balance November 30, 2017 340 300 Cash Accounts Receivable. Suppl Prepaid Insurance 1,200 1,200 600 3 650 60 2,000 803 400 Uncamed Service Rcvenue Notes Payable Service Revenue Utiaties Expense $391 3,910 As af December 31, Cookie Creatons year-end, the fallawing acjusting entry data are provided. 1. A count reveals that $45 of brochures and posters (suppies) were used 2. Depreciation is recorded on the baking equipment purchased in November. The baking equipment has a useful ife of 5 years. Assume that 2 months worth of depreciation is 3. Amortization (which is similar to depreciat on) is recorded on the website. (Credit the Website account directy for the amount of the amortization] The webaite is amortized over a useful life of 2 years and was available for use cn December 1 Interest on the note payable is accrued. (Assume that 1.5 months of interest acorued during November and December.) Raund to nearest dollar 4. 5. One months worth of insurance has expired Natalie is unexpeddecly telephoned an December 28 bo give a cookie cass at the neighborhaod community center on December 31. In early January Cookie Creations sends an invoice for $460 to the community center 7. A count reveals that $1,025 cf baking supples were used 8. A cell phone invoice is received for 75 The invoice is for services provided during the month of December and is due on January 15. 9. Because the cookie-making class occurred unexpectedly on December 31 and is for such a large group of children, Natalie's assistant helps out. Her assistant worloed 7 hours at a rate of $3 per hour 10. An analysis of the unearned revenue account reveals that two of the five classes paid for by the local school board an December 9 sill have not been taught by the end of December. The $60 deposit received on December 19 for anather ciass also remains uneamed Using the information gathered from above and from the November trial balance, do the following: (a) Journalze the above transactions. (b) Poet the December transactions (c) Prepare a trial balance at December 31, 2017 (d) Prepare and post adjusting journal entries for the month af December. (e) Prepare an adjusted trial balance as of December 31, 2017 ()Prepare an income statement and a retained eernings statement for the 2-month period ending December 31, 2017, and a classiied balance sheet as of December 31, 2017 (g) Prepare and post closing entries as af December 31, 2017 (n) Prepare a post-closing trial balance (c) Totals e) Totals Net income n)Totals 38,160 $8,804 33,211 6,065