November Transactions The Water Bottle Company was incorporated on October 1, 2016 The following transactions occurred during November Transaction Number Date 1 1-Nov Issue additional common stock for $3800 3,800 2 1-Nov Purchase 700 water bottles @ $10 each on account 7,000 3A 3-Nov Sell 250 water bottles @ $30 each for cash 7,500 3B 3-Nov Same entry but for COGS 2,500 4A 10-Nov Sell 400 water bottles @ $40 each on account 16,000 4B 10-Nov Same entry but for COGS 4,000 Pay employees for work performed ($800 from October and $2900 November) 5 15-Nov 3,700 6 15-Nov Pay $630 cash for advertising to be run in current month 7A 17-Nov (10 bottles @$30) 7B 17-Nov Same entry but for COGS 630 Remaining goods from prepayment customer in October have been delivered 300 100 The Water Bottle Company makes a partial payment for the water bottles 8 27-Nov purchased Nov 1 - pay $3000 9 28-Nov Pay $480 in utlities for current month use A customer paid in advance for 210 water bottles @ $25 each to be delivered 10 30-Nov in the future 11 30-Nov Receive full payment from customer who bought on account on Nov 10 12 30-Nov Pay cash dividends to your shareholders in the amount of $450. Adjusting Entries for November a) 30-Nov Adjust for use of prepaid rent 1 month b) 30-Nov Adjust for use of insurance policy 1 month c) 30-Nov Adjust for depreciation of equipment ($140 a month given) d) 30-Nov Adjust for $900 of salaries earned but not paid by month end e) 30-Nov Adjust for interest on the loan 5% annual rate 3,000 480 5,250 16,000 450