Continuing Cookie Chronicle CCC4 Cookie Creations is gearing up for the winter holiday season. During the month of December 2017, the following transactions occur As of December 31, Cookie Creations year-end, the following adjusting entry data are provided. Dec 1 Natalie hires an assistant at an hourly wage of S8 to help with cookie making and some 1. A count reveals that $45 of brochures and posters (supplies) were used. 2. Depreciation is recorded on the baking equipment purchased in November. The baking 5 Natalie teaches the class that was booked on November 25. The balance outstanding is equipment has a usefull life of 5 years. Assume that 2 months' worth of depreciation is 8 Cookie Creations receives a check for the amount due from the neighborhood school for the class given on November 3 3. Amortzation (which is similar to depreciation) is recorded on the website. (Credit the Website account directly for the amount of the amortization.) The website is amortized over a useful life of 2 years and was available for use on December 1 9 Cookie Creations receives $750 in advance from the lccal school board for five classes that the company will give during December and January 4. Interest on the note payable is accrued. (Assume that 1.5 months of interest accrued during November and December.) Round to nearest dollar One month's worth of insurance has expired. 15 Pays the cell phone invoice outstanding at November 30. 16 Issues a check to Natalie's 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 menth for cookie-making classes amounts to $4,000 5. Natalie is unexpectedly telephoned on December 28 to give a cookie class at the neighborhood community center on December 31. In early January Cookie Creations sends an invoice for $450 to the community center 6. 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.) 7. A count reveals that $1,025 of baking supplies 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. 23 Additional baking supplies purchased during the month for sugar, flour, and chocolate 23 Issues a check to Natalie's assistant for $800. Her assistant worked approximately 100 28 Pays a dividend of $500 to the common shareholder (Natalie) chips amount to $1,250 cash. 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 worked 7 hours at a rate of $8 per hour hours from the time in which she was hired until December 23. 10. An analysis of the unearned revenue acccunt reveals that two of the five classes paid for by the local school board on December 9 still have not been taught by the end of December. The $60 deposit received on December 19 for another class also remains unearmed. The trial balance from November is shown below Using the information gathered from above and from the November trial balance, do the following November 30, 2017 (a) Journaize the above transactions. (b) Post the December transactions. (c) Prepare a trial balance at December 31, 2017 (d) Prepare and post adjusting jounal entries for the month of December (e) Prepare an adjusted trial balance as of December 31, 2017 (f) Prepare an income statement and a retained eamings statement for the 2-month period S 340 Accounts Receivable Supplies Prepaid Insurance Equipment 1,200 1,200 600 ending December 31, 2017, and a classified balance sheet as of December 31, 2017 (g) Prepare and post closing entries as of December 31, 2017 (h) Prepare a post-closing trial balance. (c) Totals (e) Totals (f) Net income (h) Totals 3 650 Accounts Payable Unearned Servicc Revenue Notes Payable Common Stock Service Revenue Utilities Expense $8,160 38,804 $8,065 50 $3,910 $3,910 Continuing Cookie Chronicle CCC4 Cookie Creations is gearing up for the winter holiday season. During the month of December 2017, the following transactions occur As of December 31, Cookie Creations year-end, the following adjusting entry data are provided. Dec 1 Natalie hires an assistant at an hourly wage of S8 to help with cookie making and some 1. A count reveals that $45 of brochures and posters (supplies) were used. 2. Depreciation is recorded on the baking equipment purchased in November. The baking 5 Natalie teaches the class that was booked on November 25. The balance outstanding is equipment has a usefull life of 5 years. Assume that 2 months' worth of depreciation is 8 Cookie Creations receives a check for the amount due from the neighborhood school for the class given on November 3 3. Amortzation (which is similar to depreciation) is recorded on the website. (Credit the Website account directly for the amount of the amortization.) The website is amortized over a useful life of 2 years and was available for use on December 1 9 Cookie Creations receives $750 in advance from the lccal school board for five classes that the company will give during December and January 4. Interest on the note payable is accrued. (Assume that 1.5 months of interest accrued during November and December.) Round to nearest dollar One month's worth of insurance has expired. 15 Pays the cell phone invoice outstanding at November 30. 16 Issues a check to Natalie's 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 menth for cookie-making classes amounts to $4,000 5. Natalie is unexpectedly telephoned on December 28 to give a cookie class at the neighborhood community center on December 31. In early January Cookie Creations sends an invoice for $450 to the community center 6. 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.) 7. A count reveals that $1,025 of baking supplies 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. 23 Additional baking supplies purchased during the month for sugar, flour, and chocolate 23 Issues a check to Natalie's assistant for $800. Her assistant worked approximately 100 28 Pays a dividend of $500 to the common shareholder (Natalie) chips amount to $1,250 cash. 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 worked 7 hours at a rate of $8 per hour hours from the time in which she was hired until December 23. 10. An analysis of the unearned revenue acccunt reveals that two of the five classes paid for by the local school board on December 9 still have not been taught by the end of December. The $60 deposit received on December 19 for another class also remains unearmed. The trial balance from November is shown below Using the information gathered from above and from the November trial balance, do the following November 30, 2017 (a) Journaize the above transactions. (b) Post the December transactions. (c) Prepare a trial balance at December 31, 2017 (d) Prepare and post adjusting jounal entries for the month of December (e) Prepare an adjusted trial balance as of December 31, 2017 (f) Prepare an income statement and a retained eamings statement for the 2-month period S 340 Accounts Receivable Supplies Prepaid Insurance Equipment 1,200 1,200 600 ending December 31, 2017, and a classified balance sheet as of December 31, 2017 (g) Prepare and post closing entries as of December 31, 2017 (h) Prepare a post-closing trial balance. (c) Totals (e) Totals (f) Net income (h) Totals 3 650 Accounts Payable Unearned Servicc Revenue Notes Payable Common Stock Service Revenue Utilities Expense $8,160 38,804 $8,065 50 $3,910 $3,910