Cookie Creations 02 a-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 the process of getting the 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 processor and mixer that originally 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 equipment in the business. 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 name of the business. Natalie 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 reported in the accounts as 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 dass for December 4 for $150. She receives $30 cash in advance as a down payment. 30 Natalie pays $1,320 for a one-year insurance policy that will expire on December 1, 2020. Gradebook ORION Downloadable eTextbook ignment CALCULATOR FULL SCREEN PRINTER VERSION NEXT 4 BACK s Date Account Titles and Explanation Debit Credit (To record cash deposited in personal bank account) Nov. 8 Nov. 11 Nov. 13 Nov. 14 Nov. 16 Nov. 17 Nov. 20 Nov. 25 Nov. 30 1 (To record amount transferred from personal account to Cookie creation account) > v dy CALCULATOR FULL SCREEN PRINTER VERSION NEXT 4 BACK ECES Date Account Titles and Explanation Debit Credit on (To record cash deposited in personal bank account) on (To record amount transferred from personal account to Cookie creation account) 2 Nov. 8 Nov. 11 Nov. 13 Nov. 14 Nov. 16 Nov. 17 Nov. 20 Nov, 25 Nov. 30 udy Privacy Policy | 9.2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24.20.1 Study Practie Assignment Gradebook ORION Downloadable eTextbook Open Assignment RACK CALCULATOR NE PRINTER VERSION FULL SCREEN (To record amount transferred from personal account to Cookie creation account) RESOURCES Credit 02 ats ations 5. Nov. Nov. 11 Nov. 13 Nov. 14 Nov. 16 Nov. 12 Nov. 20 Nov. 25 Nov. 30 ons 06. eations Part el Samson Te ults by Study met Policy 1 2009-2020.ohn Wie Sons Inc. All rohts Reserved. A Division of John Wiley & Sons Version 4.24.20 Type here to search O - B C ament CALCULATOR NEXT FULL SCREEN PRINTER VERSION 4 BACK Nov. 8 Nov. 11 Nov. 13 Nov. 14 Nov. 16 Nov. 17 Nov. 20 Nov. 25 Nov. 30 Clirli unit char Al for this action Don Chur acy Policy. 2000-2020. John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24.20.1 CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Nov. 8 Nov. 11 Nov. 13 Nov. 14 Nov. 16 Nov. 17 Nov. 20 Nov. 25 Nov. 30
