Order custom papers, masters thesis and dissertation in 3 guided steps; human written!
Posted: September 1st, 2023
Cookie Creations 3
Cookie Creations Continuing Problem 3
(Note: This is a continuation of the Cookie Creations from Chapters 1 and 2.)
CC3 In November 2020, after having incorporated Cookie Creations Inc., Natalie begins operations. She has decided not to pursue the offer to supply cookies to Biscuits. Instead, she will focus on offering cooking classes. The following events occur.
Nov. 8 Natalie cashes in her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.
8 Natalie opens a bank account for Cookie Creations Inc.
8 Natalie purchases $500 of Cookie Creations’ common stock.
11 Cookie Creations purchases paper and other office supplies for $95. (Use Supplies.)
14 Cookie Creations pays $125 to purchase baking supplies, such as flour, sugar, butter, and chocolate chips. (Use Supplies.)
15 Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $550. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300, and she transfers the equipment into the business in exchange for additional common stock.
16 The company needs more cash to sustain its operations. Natalie’s grandmother lends the company $2,000 cash, in exchange for a two-year, 9% note payable. Interest and the principal are repayable at maturity.
17 Cookie Creations pays $900 for additional baking equipment.
18 Natalie schedules her first class for November 29. She will receive $100 on the date of the class.
25 Natalie books a second class for December 5 for $150. She receives a $60 cash down payment, in advance.
29 Natalie teaches her first class, booked on November 18, and collects the $100 cash.
30 Natalie’s brother develops a website for Cookie Creations Inc. that the company will use 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.)
30 Cookie Creations pays $1,200 for a one-year insurance policy.
30 Natalie teaches a group of elementary school students how to make Santa Claus cookies. At the end of the class, Natalie 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 some time in December.
30 Natalie receives a $50 invoice for use of her cell phone. She uses the cell phone exclusively for Cookie Creations Inc. business. The invoice is for services provided in November, and payment is due on December 15.
Instructions
(a) Prepare journal entries to record the November transactions.
(b) Post the journal entries to the general ledger accounts.
(c) Prepare a trial balance at November 30, 2020.
You Want Quality and That’s What We Deliver
We’ve put together our writing team with care, choosing talented writers who shine in their fields. Each one goes through a tough selection process, where we look for folks with deep expertise in specific subjects and a solid history of academic writing. They bring their own mix of know-how and flair to the table, making sure our content hits the mark—packed with info, easy to read, and perfect for college students like you.
We don’t do AI-written essays or copycat work—everything’s original. Competitive pricing is a big deal for us; we keep costs fair while delivering top-notch quality. Our writers are some of the best out there, and we charge rates that stack up well against other services. This means you get stellar content without draining your wallet. Our pricing is straightforward and honest, built to give you real value for your money. That’s why students turn to us for high-quality writing services that won’t break the bank.
Academic integrity is at the heart of what we do. Every paper starts from scratch, with original research and writing tailored just for you. We write 100% authentic—no plagiarism research essays. Our strict quality control process includes scanning every draft with top tools like SafeAssign and Turnitin, so you get a similarity score and proof of originality. We’re obsessive about proper citation and referencing too, crediting every source to keep things legit. It’s all about giving you peace of mind with content that meets the highest standards.
When you decide to place an order with Dissertation Writer, here is what happens: