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It is the end of November and Mel-ling has been in touch with her grandmother. Her grandmother asked Melling how things went in her first

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It is the end of November and Mel-ling has been in touch with her grandmother. Her grandmother asked Melling how things went in her first month of business. Mei-ling, too, would like to know if the company has been profitable or not during November. Mel-ling realizes that in order to determine Matcha Creations income, she must first make adjustments Mei-ling puts together the following additional information. 1. 2 3 A count reveals that NT$50 of baking supplies were used during November Mei-ling estimates that all of her baking equipment will have a useful life of 5 years or 60 months. (Assume Mei-ling decides to record a full month's worth of depreciation, regardless of when the equipment was obtained by the business) Mei-ling's grandmother has decided to charge interest of 6% on the note payable extended on November 16. The loan plus interest is to be repaid in 24 months. (Assume that half a month of interest accrued during November) On November 30, a friend of Mei-ling's asks her to teach a class at the neighborhood school, Meeling agrees and teaches a group of 35 first-grade students how to make holiday cookies. The next day. Mei-ling prepares an invoice for NT$395 and leaves it with the school principal. The principal says that he will pass the invoice along to the head office, and it will be paid sometime in December Mei-ling receives a utility bill for NT$35. The bill is for utilities consumed by Mei-ling's business during November and is due December 15. a 5. The trial balance is presented below. The trial balance is presented below. MATCHA CREATIONS Trial Balance November 30, 2021 Debit Credit Cash NT$235 Supplies 150 1.440 1.200 NT$50 Prepaid Insurance Equipment Unearned Service Revenue Notes Payable Share Capital --Ordinary Service Revenue 2.000 800 230 Advertising Expense 55 NT$3.080 NT$3,080 No. Dute Accounts and Explanation De 1 NO C R 30 - 87 - e 1

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