Crumble Corp purchases and sells cookies Using the financial statement effects transaction template, record the transactions below that took place in December, Crumble Corp s first month of operations The company prepares financial statements annually on December 31 Make sure you number the transactions (1) Dec 1 Crumble's issues common stock for $50,000 (2) Dec 1 Crumble's Corp takes out a 5 year bank loan for $240,000 with 10 interest payable annually (every November 30, starting November 30, 2019) (3) Dec 1 Kitchen space is rented at a rate of $3,000 per month Four months (December through March) of rent is paid in cash on Dec 1 (4) Dec 1 Equipment (a stove $22,000 and a refrigerator $18,000) is purchased for $40,000 cash (5) Dec 11 Crumble Corp purchases 300 boxes of cookies of inventory on credit for $4,800 (6) Dec 15 150 boxes of cookies (purchased on Dec 11) are sold at $20 box, half in cash, half on credit (7) Dec 16 A customer is so excited about the cookies, that he orders 250 boxes at $20 box, giving a downpayment of $3,000 in cash The cookies are expected to be delivered in January (8) Dec 18 A kitchen fire occurs, totally destroying the new stove, which cost $22,000 Unfortunately, Crumble Corp did not insure the stove Cookie Factory Corp did not replace the stove No depreciation is recorded before the destruction of the stove (9) Dec 19 Crumble Corp receives bills for miscellaneous expenses (utilities, telephone, laundry, etc ) for the month of December totaling $2,300 Cookie Factory Corp decides to pay these bills in January (10) Dec 31 Before preparing financial statements, Crumble Corp realizes that the company needs to record adjusting entries for Rent (related to transaction 3) Interest (related to transaction 2) Depreciation (related to transactions 4 and 8) Depreciation is to be taken over 5 years with zero salvage value using the straight line depreciation method Transaction Balance Sheet Income Statement Cash Asset Noncash Assets Liabil ities Contrib Capital Earned Capital Rev enues Expen ses Net Income

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Crumble Corp. purchases and sells cookies. Using the financial statement effects transaction template, record the transactions below that took place in December, Crumble Corp.s first

Crumble Corp. purchases and sells cookies. Using the financial statement effects transaction template, record the transactions below that took place in December, Crumble Corp.s first month of operations. The company prepares financial statements annually on December 31. Make sure you number the transactions.

(1)		Dec. 1: Crumble's. issues common stock for $50,000.
(2)		Dec. 1: Crumble's Corp. takes out a 5-year bank loan for $240,000 with 10% interest payable annually (every November 30, starting November 30, 2019).
(3)		Dec. 1: Kitchen space is rented at a rate of $3,000 per month. Four months (December through March) of rent is paid in cash on Dec. 1.
(4)		Dec. 1: Equipment (a stove $22,000 and a refrigerator $18,000) is purchased for $40,000 cash.
(5)	Dec. 11: Crumble Corp. purchases 300 boxes of cookies of inventory on credit for $4,800.
(6)	Dec. 15: 150 boxes of cookies (purchased on Dec. 11) are sold at $20/box, half in cash, half on credit.
(7)	Dec. 16: A customer is so excited about the cookies, that he orders 250 boxes at $20/box, giving a downpayment of $3,000 in cash. The cookies are expected to be delivered in January.
(8)	Dec. 18: A kitchen fire occurs, totally destroying the new stove, which cost $22,000. Unfortunately, Crumble Corp. did not insure the stove. Cookie Factory Corp. did not replace the stove. No depreciation is recorded before the destruction of the stove.
(9)	Dec. 19: Crumble Corp. receives bills for miscellaneous expenses (utilities, telephone, laundry, etc.) for the month of December totaling $2,300. Cookie Factory Corp. decides to pay these bills in January.
(10)	Dec. 31: Before preparing financial statements, Crumble Corp. realizes that the company needs to record adjusting entries for: Rent (related to transaction 3) Interest (related to transaction 2) Depreciation (related to transactions 4 and 8). Depreciation is to be taken over 5 years with zero salvage value using the straight-line depreciation method.