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Instructions (a) Answer their questions. (b) Prepare the journal entries required on November 1, 2014, the date when Natalie and Curtis transfer the assets of

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Instructions (a) Answer their questions. (b) Prepare the journal entries required on November 1, 2014, the date when Natalie and Curtis transfer the assets of their respective businesses into Cookie & Coffee Creations Inc. (c) Assume that Cookie & Coffee Creations Inc. issues 1,000 $0.50 noncumulative preferred shares to Curtis's dad and the same number to Natalie's grandmother, in both cases for $5,000. Also assume that Cookie & Coffee Creations Inc. issues 750 common shares to its lawyer. Prepare the journal entries for each of these transactions. They all occurred on November 1. (d) Prepare the opening balance sheet for Cookie & Coffee Creations Inc. as of November 1, 2014, including the journal entries in (b) and (0) above

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