COOKIE CREATIONS INC. Adjusted Trial Balance December 31, 2020 Cash $1,340 Accounts Receivable 1.450 Supplies 400 Prepaid Insurance 1,100 Equipment 1.200 Accumulated Depreciation-Equipment $40 Website 575 Accounts Payable Interest Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable Common Stock 800 Dividends 500 Service Revenue 5,450 Utilities Expense 125 Salaries and Wages Expense Supplies Expense 1.070 Depreciation Expense 40 Amortization Expense Interest Expense Insurance Expense $8,804100$8,804 Post the adjusting journal entries required. Supplies Prepaid Insurance Salaries and Wages Payable Sales Revenue Because Natalie has had sucha successful first few months, she is considering other opportunities to develop her business One opportunity is to become the exclusive distributor of a line of fine European mixers. The current cost of a mixer is approximately $550 and Natalie would sell each one for $1,100. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be earily identified. In the end, Natalie decides to we the perpetual method of accounting for inventory, and the following transactions happen during the month of Jansary. Jan.4 She buys five deluae mlixers on account from Kziniki Supply Co. for 52,750 , terms n/30. 6. She pavs 5100 freight on the January 4 purchase. 7 Natalie returns one of the mikers to Kainkibecause it was damaged during shipping. Kzinski issues Cookie Creations credit for the cost of the mixer plus 520 for the cost of freight that was paid on January 6 for one mixer. 8 She collects the amount due from the neighborhood community center that was accrued at the end of December 2020. 12. She sells three deluxe mixers on account for $3,300,FOB destination, terms n/30. The mixers cost $570 each fincluding freight): 13 Natalie pays her celi phone bill previously accrued in the December adjusting journal entries. 14 She pays 575 of delivery charges for the three mixers that were sold on January 12. 14 She burs four deluxe misers on account from Kzinski Supply Co. for $2200, terns n/30. 17 Natalie is concerned that there is not enough cash avaliable to pay for all of the mixers purchased. She issues additional commonstock for 51.000 18. She pays 580 freight on the January 14 purchase. 20 She sells two deluse muxers for $2.200canh. 28 Natalie issues a check to her assistant. Her assistant worked 20 hours in January and is also paid for the amount accrued at December 31, 2020. Recall that Natalie's assistant earns 58 an hour. 28 Natalie collects amounts due from customers from the Jamary 12 transaction. 31. She pars Krinski all amounts duo. 31. Cashdidends of 5750 are paid COOKIE CREATIONS INC. Adjusted Trial Balance December 31, 2020 Cash $1,340 Accounts Receivable 1.450 Supplies 400 Prepaid Insurance 1,100 Equipment 1.200 Accumulated Depreciation-Equipment $40 Website 575 Accounts Payable Interest Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable Common Stock 800 Dividends 500 Service Revenue 5,450 Utilities Expense 125 Salaries and Wages Expense Supplies Expense 1.070 Depreciation Expense 40 Amortization Expense Interest Expense Insurance Expense $8,804100$8,804 Post the adjusting journal entries required. Supplies Prepaid Insurance Salaries and Wages Payable Sales Revenue Because Natalie has had sucha successful first few months, she is considering other opportunities to develop her business One opportunity is to become the exclusive distributor of a line of fine European mixers. The current cost of a mixer is approximately $550 and Natalie would sell each one for $1,100. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be earily identified. In the end, Natalie decides to we the perpetual method of accounting for inventory, and the following transactions happen during the month of Jansary. Jan.4 She buys five deluae mlixers on account from Kziniki Supply Co. for 52,750 , terms n/30. 6. She pavs 5100 freight on the January 4 purchase. 7 Natalie returns one of the mikers to Kainkibecause it was damaged during shipping. Kzinski issues Cookie Creations credit for the cost of the mixer plus 520 for the cost of freight that was paid on January 6 for one mixer. 8 She collects the amount due from the neighborhood community center that was accrued at the end of December 2020. 12. She sells three deluxe mixers on account for $3,300,FOB destination, terms n/30. The mixers cost $570 each fincluding freight): 13 Natalie pays her celi phone bill previously accrued in the December adjusting journal entries. 14 She pays 575 of delivery charges for the three mixers that were sold on January 12. 14 She burs four deluxe misers on account from Kzinski Supply Co. for $2200, terns n/30. 17 Natalie is concerned that there is not enough cash avaliable to pay for all of the mixers purchased. She issues additional commonstock for 51.000 18. She pays 580 freight on the January 14 purchase. 20 She sells two deluse muxers for $2.200canh. 28 Natalie issues a check to her assistant. Her assistant worked 20 hours in January and is also paid for the amount accrued at December 31, 2020. Recall that Natalie's assistant earns 58 an hour. 28 Natalie collects amounts due from customers from the Jamary 12 transaction. 31. She pars Krinski all amounts duo. 31. Cashdidends of 5750 are paid
