It is the end of November and Natalie has been in touch with her grandmother. Her grandmother asked Natalie how well things went in her first month of business. Natalie, too, would like to know if the company has been profitable or not during November. Natalie realizes that in order to determine Cookie Creations' income, she must first make adjustments.

4. On November 30, a friend of Natalie's asks her to teach a class at the neighborhood school. Natalie agrees and teaches a group of 35 first-grade students how to make Santa Claus cookies. The next day, Natalie prepares an invoice for $300 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. 5. Natalie receives a utilities bill for $45. The bill is for utilities consumed by Natalie's business during November and is due December 15. Prepare the adjusting journal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 2. Nov. 30 3. Nov. 30 4. Nov. 30 5. Nov. 30 e Textbook and MediaPost the adjusting journal entries. (Post entries in the order ofjournal entries presented in the previous question.) Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 245 Accounts Receivable Date Explanation Ref. Debit Credit Balance Nov. 30 J2 Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 125 30 J2 Prepaid Insurance Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 1,320 Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 1,200 Accumulated DepreciationEquipment Date Explanation Ref. Debit Credit Balance Nov. 30 \\/ Accounts Payable Date Explanation Ref. Debit Credit Balance Nov. 30 J2 Interest Payable Date Exnlanal'inn Ref. Debit Credit Balanm | :3 Accounts Payable Date Explanation Ref. Debit Credit Balance Nov.30 J2 Interest Payable Date Explanation Ref. Debit Credit Balance Nov.30 J2 Unearned Service Revenue Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 30 Notes Payable Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 2,000 Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 800 Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 125 30 J2 Utilities Expense Date Explanation Ref. Debit Credit Balance Nov.30 J2 Advertising Expense Date Explanation Ref. Debit Credit Balance Nov. 30 Balance w/ 65 Supplies Expense Date Explanation Ref. Debit Credit Balance Nov. 30 Balance \\/ 65 Supplies Expense Date Explanation Ref. Debit Credit Balance Nov. 30 J2 Depreciation Expense Date Explanation Ref. Debit Credit Balance Nov. 30 J2 Date Explanation Ref. Debit Credit Balance Nov. 30 J2 eTextbook and Media List of Accounts Prepare an adjusted trial balance. COOKIE CREATIONS Adjusted Trial Balance Debit Credit Totals $ $ e Textbook and Media List of Accounts Using the adjusted trial balance, calculate Cookie Creations' net income or net loss for the month of November 2018. eTextbook and Media List of Accounts Attempts: u Send to GradebookCOOKIE CREATIONS Trial Balance November 30. 2018 Debit Credit Cash $245 Supplies 125 Prepaid Insurance 1.320 Equipment 1200 Unearned Service Revenue $30 Notes Payable 2,000 Common Stock 800 Service Revenue 125 Advertising Expense 65 $2,955 $2,955 It is the end of November and Natalie has been in touch with her grandmother. Her grandmother asked Natalie how well things went in her rst month of business. Natalie, too, would like to know if the company has been protable or not during November. Natalie realizes that in order to determine Cookie Creations' income, she must rst make adjustments. Natalie puts together the following additional information. 1. Acount reveals that $35 of baking supplies were used during November. Natalie estimates that all of her baking equipment will have a useful life of 5 yea rs or 60 months. (Assume Natalie decides to record a full month's worth of depreciation, regardless of when the equipment was obtained by the business.) 3. Natalie'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.) 4. On November 30, a friend of Natalie's asks her to teach a class at the neighborhood school. Natalie agrees and teaches a group of 35 rst-grade students how to make Santa Claus cookies. The next day, Natalie prepares an invoice for $300 and leaves it with the school principal. The principal says that he will pass the invoice along to the head ofce. and it will be paid sometime in December. 5. Natalie receives a utilities bill for $45. The bill is for utilities consumed by Natalie's business during November and is due December 15