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What are the adjust entries for these??? November 2 0 2 3 November 8 Elizabeth cashes in her U . S . Savings Bond and

What are the adjust entries for these???
November 2023
November 8 Elizabeth cashes in her U.S. Savings Bond and receives $520, which she
deposits in her personal bank account.
November 8 Elizabeth purchases $500 of common stock in Taste Buds Kitchen.
November 14 Taste Buds Kitchen pays $125 to purchase baking supplies, such as flour,
sugar, butter, and chocolate chips (Account: Supplies).
November 15 Elizabeth starts to gather some equipment to take with her when
teaching the cooking classes. She has an excellent top-of-the-line food
processor and mixer that originally cost her $550. Elizabeth decides to
start using it only in her business. She estimates that the equipment is
currently worth $300, and she transfers the equipment into the business
in exchange for additional common stock.
November 16 The company needs more cash to sustain its operations. Elizabeth
decides to borrow from EG credit union, and the bank lends the company
$2,000 cash, in exchange for a two-year, 9% note payable. Interest and
the principal are payable at maturity.
November 17 Taste Buds Kitchen pays $900 for additional baking equipment.
November 18 Elizabeth schedules her first class for November 29. She will receive
$100 on the date of the class.
November 25 Elizabeth books a second class for December 5 for $150. She receives a
$60 cash down payment, in advance.
November 30 Elizabeths brother develops a website for Taste Buds Kitchen, Inc., and
the company will use the site for advertising. He charges the company
$600 for his work, payable at the end of December. (Because the website
is expected to have a useful life of two years before upgrades are needed,
it should be treated as an asset called Website).
November 30 Taste Buds Kitchen pays $1,200 for a one-year insurance policy.
November 30 Elizabeth teaches a group of elementary school students how to make
Santa Clause cookies. At the end of the class, Elizabeth leaves an invoice
for $300 with the school principal. The principal says that he will pass it
along to the business office, and it will be paid sometime in December.
November 30 Elizabeth receives a $50 invoice for use of her cell phone. She uses the
cell phone exclusively for Taste Buds Kitchen business. The invoice is for
services provided in November, and payment is due on December 15.
December 2023
December 1 Elizabeth hires an assistant at an hourly wage of $8 per hour to help with
cookie making and some administrative duties.
December 5 Elizabeth teaches the class that was booked on November 25. The
balance outstanding is received.
December 8 Taste Buds Kitchen receives a check for the amount due from the
neighborhood school for the class given on November 30.
December 9 Taste Buds Kitchen receives $750 in advance from the local school board
for fiveclasses that the company will give during December and
January.
December 15 Pays the cell phone invoice outstanding at November 30.
December 16 Issues a check to Elizabeths brother for the amount owed for the design
of the website.
December 19 Receives a deposit of $60 on a cookie-baking class scheduled for early
January.
December 23 Additional revenue during the month for cookie-making classes amounts
to $4,000(Elizabeth has not had time to account for each class
individually). $3,000 in cash has been collected and $1,000 is still
outstanding. (This is in addition to December 5 and December 9
transactions).
December 23 Issues a check to Elizabeths assistant for $800. Her assistant worked
approximately 100 hours from the time in which she was hired until
December 23.
December 28 Taste Buds Kitchen, Inc. pays a dividend of $500 to the common
shareholder (Elizabeth).

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