Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

enter the november balances and lost the december transactions. (use the general ledger accounts shown in problem statement.) Cookie Creations is gearing up for the

enter the november balances and lost the december transactions. (use the general ledger accounts shown in problem statement.)
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed

Cookie Creations is gearing up for the winter holiday season. During the month of December 2025, 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. Natalie teaches the class that was booked on November 25 when a $60 deposit on the class was paid in advance. The $90 5 balance outstanding is received. 8 9 Cookie Creations receives a $300 check for the amount due from the neighborhood school for the class given on November 30. 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 $50 cell phone invoice outstanding at November 30. 16 Issues a check to Natalie's brother for the $600 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.) Additional baking supplies purchased during the month for sugar, flour, and chocolate chips amount to $1.250 paid in 23 cash. 23 28 28 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. Pays a dividend of $500 to the common shareholder (Natalie).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

IFRS Edition

978-1118443965, 1118800532, 9781118800539, 978-0470873991

More Books

Students also viewed these Accounting questions