@Home Community - CCA (04) X B ACC121 M3COMP PROBLEM - AC X WileyPLUS X Course Hero X https://twitter.com/CourseHero x + X -> C A https://edugen.wileyplus.com/edugen/Iti/main.uni Apps New Tab N NPlay - Free Multi-... () Drivers & Downloa G Google Unity - Web Player... MyCCA |Communit.. Stellarium Astrono.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES ACC121 M3COMP Cookie Creations 5 b-f (Part Level Submission) PROBLEM Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is the sale of fine European mixers. The owner of Kzinski Supply Co. has approached Natalie to Cookie Creations 5 b-f become the exclusive distributor of these fine mixers in her state. The current cost of a mixer is approximately $575, and Natalie would sell each one for $1,150. Natalie comes to you for advice on how to account for these mixers. Each (Part Level Submission) appliance has a serial number and can be easily identified. The trial balance for Continuing Cookie Chronicle as on December 31, 2011 is as follows: Cookie Creations 06 a-b Continuing Cookie Chronicle Review Score Trial Balance Review Results by Study December 31, 2011 Objective Account Debit Credit Cash $1,180 Accounts Receivable 875 Supplies 350 Prepaid Insurance 1,210 Equipment 1,200 Accumulated Depreciation - Equipment $40 Accounts Payable 75 Salaries and Wages Payable 56 Unearned Service Revenue 300 Interest Payable 15 Notes Payable 2,000 Owner's Capital 2,329 $4,815 $4,815 In the end, Natalie decides to use the perpetual inventory system. The following transactions happen during the month of January. Jan. 4 Bought five deluxe mixers on account from Kzinski Supply Co. for $2,875, FOB shipping point, terms n/30. Paid $100 freight on the January 4 purchase. 7 Returned one of the mixers to Kzinski because it was damaged during shipping. Kzinski issues Continuing Cookie Chronicle credit for the cost of mixer plus $20 for the cost of freight that was paid on January 6 for one mixer. 8 Collected $375 of the accounts receivable from December 2015. 12 Three deluxe mixers are sold on account for $3,450, FOB destination, terms n/30. (Cost of goods sold is $595 per mixer.) 14 Paid the $75 of delivery charges for the three mixers that were sold on January 12. 14 Bought four deluxe mixers on account from Kzinski Supply Co. for $2,300, FOB shipping point, terms n/30. 17 Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She invests an additional $1,000 cash in Continuing Cookie Chronicle. Paid $80 freight on the January 14 purchase. 20 Sold two deluxe mixers for $2,300 cash. (Cost of goods sold is $595 per mixer.) Natalie issued a check to her assistant for all the help the assistant has given her during the month. Her assistant worked 20 hours in January and is also paid the $56 owed at December 31, 2016. (Natalie's assistant earns $8 an hour.) 28 Collected the amounts due from customers for the January 12 transaction.@Home Community - CCA (04) X B ACC121 M3COMP PROBLEM - AC X WileyPLUS X Course Hero X https://twitter.com/CourseHero x + X -> C A https://edugen.wileyplus.com/edugen/Iti/main.uni Apps New Tab N NPlay - Free Multi-.. () Drivers & Downloa G Google Unity - Web Player... MyCCA |Communit.. Stellarium Astrono.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES ACC121 M3COMP 28 Collected the amounts due from customers for the January 12 transaction. PROBLEM 30 Paid a $145 utility bill ($75 for the December 2016 accounts payable and $70 for the month of January). Cookie Creations 5 b-f 31 Paid Kzinski all amounts due. (Part Level Submission) Cookie Creations 06 a-b 31 Natalie withdrew $750 for personal use. Review Score Review Results by Study (b1) Objective Prepare the January 2017 transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit Jan. 4 Equipment 2875 Accounts Payable 2875 Jan. 6 7 Freight-In Cash 100 Jan. 7 Accounts Payable 20 Equipment 20 Jan. 8 7 Cash 375 Accounts Receivable 375 Jan. 12 7 Accounts Receivable 3450 Inventory 3450 (To record sales revenue) (To record cost of goods sold)@Home Community - CCA (04) X B ACC121 M3COMP PROBLEM - AC X WileyPLUS X Course Hero X https://twitter.com/CourseHero x + X -> C A https://edugen.wileyplus.com/edugen/Iti/main.uni Apps New Tab N NPlay - Free Multi-... (@) Drivers & Downloa G Google Unity - Web Player... MyCCA |Communit.. Stellarium Astrono.. WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES (To record delivery charges paid) ACC121 M3COMP PROBLEM Cookie Creations 5 b-f (Part Level Submission) Cookie Creations 06 a-b (To record purchases made) Review Score Review Results by Study Objective (To record sales revenue) (To record cost of goods sold) Jan. 28 (To record salaries and wages paid) (To record amount collected from customers) Jan. 30@Home Community - CCA (04) X B ACC121 M3COMP PROBLEM - AC X WileyPLUS X Course Hero X https://twitter.com/CourseHero x + X -> C A https://edugen.wileyplus.com/edugen/Iti/main.uni Apps New Tab N NPlay - Free Multi-... () Drivers & Downloa G Google Unity - Web Player... MyCCA |Communit.. Stellarium Astrono... WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES ACC121 M3COMP PROBLEM Cookie Creations 5 b-f (To record salaries and wages paid) (Part Level Submission) Cookie Creations 06 a-b Review Score Review Results by Study Objective (To record amount collected from customers) Jan. 30 (To record payment made to creditor) (To record amount withdrawn for personal use) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT