Continuing Cookie Chronicle

(Note: This is a continuation of the Cookie Chronicle from Chapters 1 and 2.)

CCC3 In November 2014, after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided not to pursue the offer to supply cookies to Biscuits. Instead, she will focus on offering cooking classes. The following events occur.

Nov. 8 Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.

8 Natalie opens a bank account for Cookie Creations Inc.

8 Natalie purchases $500 of Cookie Creations? common stock.

11 Cookie Creations purchases paper and other office supplies for $95. (Use Supplies.)

14 Cookie Creations pays $125 to purchase baking supplies, such as flour, sugar, butter, and chocolate chips. (Use Supplies.)

15 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 processor and mixer that originally cost her $550. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300, and she transfers the equipment into the business in exchange for additional common stock.

16 The company needs more cash to sustain its operations. Natalie?s grandmother lends the company $2,000 cash, in exchange for a two-year, 9% note payable. Interest and the principal are repayable at maturity.

17 Cookie Creations pays $900 for additional baking equipment.

18 Natalie schedules her first class for November 29. She will receive $100 on the date of the class.

25 Natalie books a second class for December 5 for $150. She receives a $60 cash down payment, in advance.

29 Natalie teaches her first class, booked on November 18, and collects the $100 cash.

30 Natalie?s brother develops a website for Cookie Creations Inc. that the company will use for advertising. He charges the company $600 for his work, payable at the end of December. (Because the website is expected to have a useful life of two years before upgrades are needed, it should be treated as an asset called Website.)

30 Cookie Creations pays $1,200 for a one-year insurance policy.

30 Natalie teaches a group of elementary school students how to make Santa Claus cookies. At the end of the class, Natalie leaves an invoice for $300 with the school principal. The principal says that he will pass it along to the business office and it will be paid some time in December.

30 Natalie receives a $50 invoice for use of her cell phone. She uses the cell phone exclusively for Cookie Creations Inc. business. The invoice is for services provided in November, and payment is due on December 15.

Instructions

(b) Post the journal entries to the general ledger accounts.

Continuing Cookie Chronicle

(Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 3.)

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 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 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 Natalie?s 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).

As of December 31, Cookie Creations? year-end, the following adjusting entry data are provided.

1. A count reveals that $45 of brochures and posters were used.

2. Depreciation is recorded on the baking equipment purchased in November. The baking equipment has a useful life of 5 years. Assume that 2 months? worth of depreciation is required.

3. Amortization (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.

4. Interest on the note payable is accrued. (Assume that 1.5 months of interest accrued during November and December.) Round to nearest dollar.

5. One month?s worth of insurance has expired.

6. 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.

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.

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.

10. An analysis of the unearned revenue account 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 unearned.

Instructions

Using the information that you have gathered and the general ledger accounts that you have prepared through Chapter 3, plus the new information above, do the following.

(a) Journalize the above transactions.

(b) Post the December transactions. (Use the general ledger accounts prepared in Chapter 3.)

(c) Totals $8,160

(c) Prepare a trial balance at December 31, 2014.

(d) Prepare and post adjusting journal entries for the month of December.

(e) Prepare an adjusted trial balance as of December 31, 2014.

(f ) Prepare an income statement and a retained earnings statement for the 2-month period ending December 31, 2014, and a classified balance sheet as of December 31, 2014.

(g) Prepare and post closing entries as of December 31, 2014.

(h) Prepare a post-closing trial balance.

(c) Totals $8,160

(e) Totals $8,804

(f) Net income $3,211

(h) Totals $6,065

Next Part

Continuing Cookie Chronicle

(Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 12.)

CCC13 The comparative balance sheet of Cookie & Coffee Creations Inc. at October 31, 2018 for the years 2018 and 2017, and the income statements for the years ended October 31, 2017 and 2018, are presented below.

COOKIE & COFFEE CREATIONS INC.

Balance Sheet

October 31

Assets		2018		2017
Cash		$ 22,324		$ 5,550
Accounts receivable		3,250		2,710
Inventory		7,897		7,450
Prepaid expenses		5,800		6,050
Equipment		102,000		75,500
Accumulated depreciation		(25,200)		(9,100)
Total assets		$116,071		$88,160
Liabilities and Stockholders? Equity
Accounts payable	$ 1,150		$ 2,450
Income taxes payable	9,251		7,200
Dividends payable	27,000		27,000
Salaries and wages payable	7,250		1,280
Interest payable	188		0
Note payable?current portion	4,000		0
Note payable?long-term portion	6,000		0
Preferred stock, no par, $6 cumulative?
3,000 and 2,800 shares issued,
respectively	15,000		14,000
Common stock, $1 par?25,180
shares issued	25,180		25,180
Additional paid in capital?treasury stock	250		250
Retained earnings	20,802		10,800
Total liabilities and stockholders? equity	$116,071		$88,160

COOKIE & COFFEE CREATIONS INC.

Income Statement

Year Ended October 31

	2018		2017
Sales	$485,625		$462,500
Cost of goods sold	222,694		208,125
Gross profit	262,931		254,375
Operating expenses Salaries and wages expense	147,979		146,350
Depreciation expense	17,600		9,100
Other operating expenses	48,186		42,925
Total operating expenses	213,765		198,375
Income from operations	49,166		56,000
Other expenses Interest expense	413		0
Loss on disposal of plant assets	2,500		0
Total other expenses	2,913		0
Income before income tax	46,253		56,000
Income tax expense	9,251		14,000
Net income	$ 37,002		$ 42,000

Additional information:

Natalie and Curtis are thinking about borrowing an additional $20,000 to buy more kitchen equipment. The loan would be repaid over a 4-year period. The terms of the loan provide for equal semi-annual payments of $2,500 on May 1 and November 1 of each year, plus interest of 5% on the outstanding balance.

Instructions

(a) Calculate the following ratios for 2017 and 2018.

1. Current ratio

2. Debt to total assets

3. Gross profit rate

4. Profit margin

5. Return on assets (Total assets at November 1, 2016, were $33,180.)

6. Return on common stockholders? equity (Total common stockholders? equity at November 1, 2016, was $23,180. Dividends on preferred stock were $16,800 in 2017 and $18,000 in 2018).

(b) Prepare a horizontal analysis of the income statement for Cookie & Coffee Creations Inc. using 2017 as a base year.

Final Project Instructions and Templates Name: ___________________________________ Final Project Due by Day 7 of Week 6 This project is worth _20_ points MAKE SURE TO COMPLETE ALL GRADED REQUIREMENTS LISTED BELOW. It is recommended that you complete the non-graded requirements for additional practice All of the templates you need for the project are located in this Workbook. The instructions and data for the problem is in your Textbook (the "Continuing Cookie Chronicle" at the end of the chapter). Use the arrow buttons (lower left corner of the window) to navigate through the tabs. Submit the ENTIRE Workbook (file) to your instructor for the Week 6 Final Project Requirements Week One Chapter 1 and 2 "Continuing Cookie Chronicle" - Review the problem and make notes of your answers. Week Two Chapter 3, Part A, prepare journal entries to record the November transactions Chapter 3, Part B, post the journal entries to the general ledger accounts Chapter 3, Part C, prepare a trial balance at November 30, 2014 Week Three 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 Week Six Chapter 13 - Part A, prepare a horizontal and vertical analysis Chapter 13 - Part B, Calculate several financial ratios as indicated Sheet in Workbook Chapter 1 & 2 Notes (PRACTICE) Journal Entries General Ledger Trial Balance (PRACTICE) (PRACTICE) (PRACTICE) Journal Entries General Ledger Trial Balance Adjusting Entries Adjusted Trial Balance Financial Statements Closing Entries Post Closing TB (GRADED) (GRADED) (GRADED) (GRADED) (GRADED) (GRADED) (GRADED) (GRADED) Horiz. & Vert. Analysis Financial Ratios (GRADED) (GRADED) Make any notes from Chapters 1 or 2 here. NOTE: These notes will NOT be included in your grade for the project. They are for your own reference. or your own reference. Use the following template for the journal entries from Chapter 3: Continuing Cookie Chronicle. NOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions"). a) Prepare journal entries to record the November transactions Date General Journal Description(Account Name) Debit Credit onicle. ab marked "Solutions"). This sheet will be used for Part B of Chapter 3. NOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions b) Post the journal entries to the following general ledger accounts and compute the account balances Cash Equipment Accounts Receivable Website Accounts Payable Supplies Unearned Service Revenue Prepaid Insurance Notes Payable Common Stock Servcice Revenue Utilities Expense e found on the last tab marked "Solutions") d compute the account balances Equipment Website Supplies Prepaid Insurance Common Stock Utilities Expense Part C (Chapter 3) c) Prepare a trial balance for November 30, 2014 NOTE: This is for your practice only - it will NOT be graded (solutions are found on the last tab marked "Solutions Cookie Creations, Inc. Trial Balance November 30, 2014 Debit Total Credit 0 0 *Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calc tab marked "Solutions") Double-check your calculations and entries. Use the following template for the journal entries from Chapter 4: Continuing Cookie Chronicle. a) Prepare journal entries to record the December transactions. NOTE: This sheet WILL be graded when you submit your assignment. Date General Journal Description (Account Name) Debit Credit This sheet will be used for Part B of Chapter 3. REQUIREMENT #2: Post the journal entries to the following general ledger accounts and compute the account balances. NOTE: This sheet WILL be graded when you submit your assignment. Cash Dividends Accounts Receivable Income Summary Service Revenue Supplies Utilities Expense Prepaid Insurance Salaries & Wages Expense Equipment Accumulated Depreciation Equipment Website Insurance Expense Interest Expense Accounts Payable Depreciation Expense Interest Payable Notes Payable Common Stock Salaries & Wages Payable ompute the account balances. Dividends Unearned Service Revenue Retained Earnings Income Summary Supplies Expense Amortization Expense Supplies Prepaid Insurance Equipment Website Interest Expense Depreciation Expense Notes Payable laries & Wages Payable Retained Earnings Amortization Expense Part C (Chapter 4) NOTE: This sheet WILL be graded when you submit your assignment. c) Prepare a trial balance for December 31, 2014. Cookie Creations, Inc. Trial Balance December 31, 2014 Debit Total Credit 0 0 *Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calc Double-check your calculations and entries. Chapter 4, Part D: Prepare and post adjusting entries for December. NOTE: This part WILL be graded when you submit your assignment to the instructor. Date General Journal Description (Account Name) Debit Credit Chapter 4, Part E: Prepare an adjusted trial balance. Note: This part WILL be graded when you submit your assignment to the instructor. Cookie Creations Inc Adjusted Trial Balance December 31, 2014 0 0 *Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double-check your calcula omewhere. Double-check your calculations and entries. Chapter 4, Part F: Prepare financial statement. Note: This part WILL be graded when you submit your assignment to the instructor. You will only be preparing the income statement, statement of retained earning and the balance sheet. Cookie Creations, Inc. Income Statement For the Month Ending December 31, 2014 Revenues: Retained Earnings, December 1 Add: Net Income Subtotal Less: Dividends Retained Earnings, December 31 Operating Expenses: Total Operating Expenses Net Income Cookie Creations Statement of Retained Earnings For the Month Ending December 31, 2014 0 $ - *Remember, assets and liabilities MUST be the same amount. If they are different, then there is an error somew the balance sheet. Cookie Creations Balance Sheet December 31, 2014 Current Assets Total Current Assets Property, Plant & Equipment 0 Intangible Assets Total Assets 0 Liabilities & Stockholder's Equity Total Current Liabilities Long- Term Liabilities 0 Total Liabilities Stockholder's Equity 0 Total Stockholder's Equity Total Liabilities & Stockholder's Equity 0 - n there is an error somewhere. Double-check your calculations and entries. $ Chapter 4 - Part G: Prepare closing entries. Note: This part WILL be graded when you submit your assignment to the instructor. Hint: Use the balances for each account which appear on the adjusted trial balance for your closing entries. Date General Journal Description (Account Name) Debit Credit closing entries. Chapter 4 - Part H: Prepare post-closing trial balance. Note: This part WILL be graded when you submit your assignment to the instructor. Cookie Creations, Inc. Post-Closing Trial Balance December 31, 2014 Chapter 13, Part A of the Continuing Cookie Chronicle: Prepare a horizontal and vertical analysis Note: This part WILL be graded when you submit your assignment to the instructor Instructions: Prepare a horizontal analysis of the income statement for Cookie & Coffee Creations Inc. using 20 Note: Do not use the information presented on the Textbook website, it is different from what is required below COOKIE & COFFEE CREATIONS INC. Income Statement For the Year Ended October 31 Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense Depreciation expense Other operating expenses Total operating expenses Income from operations Other expenses Interest expense Loss on sale of computer equipment Total other expenses Income before income tax Income tax expense Net income 2014 $485,625 222,694 262,931 2013 $462,500 208,125 254,375 147,979 17,600 48,186 213,765 49,166 146,350 9,100 42,925 198,375 56,000 413 0 2,500 2,913 46,253 9,251 $37,002 0 0 56,000 14,000 $42,000 Horizontal Difference Analysis Prepare a vertical analysis of the income statement for Cookie & Coffee Creations for 2014 and 2013 COOKIE & COFFEE CREATIONS INC. Income Statement For the Year Ended October 31 Vertical 2014 Analysis $485,625 222,694 262,931 Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense Depreciation expense 147,979 17,600 2013 $462,500 208,125 254,375 146,350 9,100 Vertical Analysis Other operating expenses Total operating expenses Income from operations Other expenses Interest expense Loss on sale of computer equipment Total other expenses Income before income tax Income tax expense Net income 48,186 213,765 49,166 42,925 198,375 56,000 413 0 2,250 2,663 46,253 9,251 $37,002 0 0 56,000 14,000 $42,000 e Creations Inc. using 2013 as a base year (which is a continuation of the Continuing Cookie Chronicle) m what is required below. You may refer to the information within Chapter 13 (week 6) for assistance in completing this tab. 014 and 2013 e in completing this tab. Chapter 13, Part B of the Continuing Cookie Chronicle: Calculate the following financial ratios using the inform Note: This part WILL be graded when you submit your assignment to the instructor Note: Do not use the information presented on the Textbook website, it is different from what is required below Instructions: Using the financial statements below, compute the following ratios for 2014 only: Current Ratio, De to total Assets, Gross Profit Rate, Profit Margin, Return on Assets, and Return on Common Stockholder's Equity. Enter your computations in the yellow boxes following the format in the example. COOKIE & COFFEE CREATIONS INC. Income Statement For the Year Ended October 31 2014 $485,625 222,694 262,931 Sales Cost of goods sold Gross profit Operating expenses Salaries & wages expense Depreciation expense Other operating expenses Total operating expenses Income from operations Other expenses Interest expense Loss on sale of computer equipment Total other expenses Income before income tax Income tax expense Net income 147,979 17,600 48,186 213,765 49,166 413 2,500 2,913 46,253 9,251 $37,002 COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31, 2012 Assets Cash Accounts Receivable Inventory Prepaid Expenses Equipment Accumulated depreciation Total assets 2014 $ 22,324 3,250 7,897 5,800 102,000 (25,200) $ 116,071 Liabilities and Stockholders' Equity Accounts Payable Income taxes payable Salaries payable Interest payable Note payable - current portion Note payable - long-term Preferred stock, no par, $6portion cumulative - 3,000 and 2,800 shares issued, respectively Common stock, $1 par - 25,180 shares issued Additional paid-in capital - treasury stock Retained earnings Total liabilities and stockholders' equity $ 9,251 27,000 7,250 188 4,000 6,000 15,000 25,180 250 20,802 116,071 g financial ratios using the information from the financial statements below. erent from what is required below. You may refer to the information within Chapter 13 (week 6) for assistance in completin os for 2014 only: Current Ratio, Debt n Common Stockholder's Equity. ple. 2013 $462,500 208,125 254,375 146,350 9,100 42,925 198,375 56,000 0 0 0 56,000 14,000 $42,000 EXAMPLE: Name of Ratio Ratio = Your Answers (2014): Current Ratio = = Debt to Total Assets = = Gross Profit Rate = = Profit Margin = = Return on Assets = = Return on common Stockholder's Equity = = 1,234 1,234 = NOTE: Dividends on preferred stock were $18,000 in 2014 2013 $ 5,550 2,710 7,450 6,050 75,500 (9,100) $ 88,160 $ 7,200 27,000 1,280 0 0 0 14,000 25,180 250 10,800 88,160 or assistance in completing this tab. 1.00 Final Project Grading Rubric - 20 points total (20% of overall course grade) Criteria Parts: Excellent 90% to 100% Good 70% to 89% Chapter 4 Part A & B - Journal Entries (4pts) Journal Entries use accurate accounts and amounts; and debits and credits are used correctly. Chapter 4 Part C - Unadjusted Trial Balance. (1pt) Posting is correct leading to Posting is mostly correct an accurate trial balance. leading to a mostly correct trial balance. Chapter 4 Part D - Adjusting Journal Entries (2pts) Journal Entries use accurate accounts and amounts; and debits and credits are used correctly. Chapter 4 Part E - Posted Adjusted Posting is correct leading to Posting is mostly correct Trial Balance. (2pts) an accurate trial balance. leading to a mostly correct trial balance. Chapter 4 Part F - Financial Statements (4pts) Chapter 4 Part G - Closing Journal Journal Entries use accurate Entries (2pts) accounts and amounts; and debits and credits are used correctly. Chapter 4 Part H- Posted and Post-closingTrial Balance. (1pt) Chapter 13 Horizontal & Vertical Analysis (2pts) All three Financial Statements are prepared accurately and in an appropriate format. Journal Entries mostly use accurate accounts and amounts; and debits and credits are used correctly. Journal Entries mostly use accurate accounts and amounts; and debits and credits are used correctly. Two of three Financial Statements are prepared accurately and mostly in an appropriate format, one statement has some errors. Journal Entries mostly use accurate accounts and amounts; and debits and credits are used correctly. Posting is correct leading to Posting is mostly correct an accurate trial balance. leading to a mostly correct trial balance. Horizontal and Vertical analysis is 90% to 100% correct Horizontal and Vertical analysis is 70% to 89% correct Chapter 13 Financial Ratios (2pts) All ratios are properly calculated with none or only Most of the ratios are properly calcluated with only one ratio being incorrect. two or three ratios being incorrect. Poor 50% to 69% Journal Entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Very Poor Less than 50% Journal Entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. Posting has several errors Posting is done poorly or not at all, leading to a trial balance with leading to inaccurate or no trial several errors. balance. Journal Entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Journal Entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. Posting has several errors Posting is done poorly or not at all, leading to a trial balance with leading to inaccurate or no trial several errors. balance. One of three Financial One or fewer of three Financial Statements are prepared Statements are prepared accurately accurately and mostly in an and mostly in an appropriate format, appropriate format, two three or all statements have some statements have some errors. errors. Journal Entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. Journal Entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. Posting has several errors Posting is done poorly or not at all, leading to a trial balance with leading to inaccurate or no trial several errors. balance. Horizontal and Vertical analysis is 50% to 69% correct There are three or four errors in the calculation of financial ratios Horizontal and Vertical analysis has less than 50% correct answers. There are more than four errors in the calculation of the financial ratios. Solutions for the Practice Exercise (From Chapter 3 of Continuing Cookie Chronicles) Solutions a) Prepare journal entries to record the December transactions. Date General Journal Description (Account Name) Nov. 8 No journal entry required Nov 8. No journal entry required Nov. 8 Cash Common Stock Nov. 11 Nov. 14 Nov. 15 Nov. 16 Nov. 17 500 Supplies Cash 125 Equipment Common Stock 300 Cash Notes Payable Equipment Cash Nov. 25 Cash Unearned Service Revenue Nov. 30 500 95 No journal entry required Nov. 30 Credit Supplies Cash Nov. 18 Nov. 29 Debit 95 125 300 2,000 2,000 900 900 60 60 Cash Service Revenue 100 Website Accounts Payable 600 Prepaid Insurance Cash 100 600 1,200 1,200 Nov. 30 Nov. 30 Accounts Receivable Servcie Revenue 300 Utilities Expense Accounts Payable 50 Total 300 50 6,230 6,230 This sheet will be used for Part B of Chapter 3. Solutions Post the journal entries to the following general ledger accounts and compute the account balances. Cash Nov. 8 500 Nov. 11 Nov. 16 2,000 Nov. 14 Nov. 25 60 Nov. 17 Nov. 29 100 Nov. 30 Nov. 30 Bal. 340 95 125 900 1,200 Accounts Receivable Nov. 30 300 Nov. 30 Bal. 300 Accounts Payable Nov. 30 600 Nov. 30 50 Nov. 30. Bal 650 Unearned Service Revenue Nov. 25 60 Nov. 30. Bal. 60 Equipment Nov. 15 300 Nov. 17 900 Nov. 30 Bal 1,200 Website Nov. 30 600 Nov. 30 Bal. 600 Supplies Nov. 11 95 Nov. 11 125 Nov. 30 Bal 220 Prepaid Insurance Nov. 30 1,200 Nov. 30 Bal. 1,200 Notes Payable Nov. 16 2,000 Nov. 30. Bal. 2,000 Service Revenue Nov. 29 100 Nov. 30 300 Nov. 30 Bal. 400 Common Stock Nov. 8 500 Nov. 15 300 Nov. 30. Bal 800 Utilities Expense Nov. 30 50 Nov. 30 Bal. 50 ute the account balances. 30. Bal 800 Part C (Chapter 3) Solutions Prepare a trial balance for November 30, 2014. Cookie Creations, Inc. Trial Balance November 30, 2014 Debit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Website Accounts Payable Unearned Service Revenue Notes Payable Common Stock Service Revenue Utilities Expense Total *Note that debits equal credits. $ Credit 340 300 220 1,200 1,200 600 $ $ 50 3,910 $ 650 60 2,000 800 400 3,910