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Cookie Creations
Date 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Dec. 1 5 Cash Unearned Service Revenue Service Revenue 8 Cash Account Receivable 9 Cash Unearned Service Revenue 15 Accounts Payable Cash 16 Accounts Payable Cash 19 Cash Unearned Service Revenue 23 Cash Accounts Receivable Service Revenue 23 Baking Supplies Cash 23 Wage Expenses Cash 28 Dividends Cash
Account Titles
Debit
90 60
300
750
50
600
60
3,000 1,000
1,250
800
500
Name Section Date (b), (d), and (g) Cash Beg Bal 5-Dec 8-Dec 9-Dec 19-Dec 23-Dec End Bal
600 575
31-Dec
25
15-Dec 16-Dec
650
End Bal
650 75 725 75
300
31-Dec
23
300
Salaries Payable 800 Closing
95 50
45
28-Dec 31-Dec
856 856
56 856
Unearned Revenue 31-Dec Bal
880
1,200
11/30 Bal
2,000
11/30 Bal
500
3,211
Name Section Date (b), (d), and (g) (Continued) 28-Dec Dividends 500 Closing
500
31-Dec
40
Closing Closing
5,450 5,450
31-Dec
25
3,211 5,450
23
31-Dec
100
125 125
75 125
56
45
COOKIE CREATIONS INC. Trial Balance December 31, 2009 Account 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Cash Accounts Receivable Advertising Supplies Baking Supplies Prepaid Insurance Baking Equipment Website Unearned Revenue Notes Payable Common Stock Dividends Teaching Revenue Telephone Expense Salaries Expense
15 Totals 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39
Chapter 4 Continuing Cookie Chronicle Continued Cookie Creations Inc. COOKIE CREATIONS INC. Adjusted Jounral Entry December 31, 2009
(d) Date
Account Titles
Debit 45
1 Dec. 31 Advertising Supplies Expense 2 (1) Advertising Supplies 3 4 31 Depreciation Expense 5 (2) Accumulated Depreciation 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
40
31 Amortization Expense (3) Website 31 Interest Expense (4) Interest Payable 31 Insurance Expense (5) Prepaid Insurance 31 Accounts Receivable (6) Service Revenue 31 Baking Supplies Expense (7) Baking Supplies 31 Telephone Expense (8) Accounts Payable 31 Wages Expense (9) Wages Payable 31 Unearned Service Revenue (10) Service Revenue -
25
23
100
450
1,025
75
56
COOKIE CREATIONS INC. Adjusted Trial Balance December 31, 2009 Account 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Cash Accounts Receivable Advertising Supplies Baking Supplies Prepaid Insurance Baking Equipment Accumulated Depreciation - Baking Equipment Website Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable Common Stock Dividends Teaching Revenue Telephone Expense Salaries Expense Advertising Supplies Expense Depreciation Expense Amortization Expense Interest Expense Insurance Expense Baking Supplies Expense Totals
5,450 16 17 18 19 20 21 22 23 24 8,804 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39
COOKIE CREATIONS INC. Income Statement For the Two Months Ended December 31, 2009 1 REVENUES: 2 Service Revenue 3 EXPENSES: 4 Wages Expense 5 Telephone Expense 6 7 8 9 10 Advertising Supplies Expense Depreciation Expense Amortization Expense Interest Expense Insurance Expense 1 5,450 2 3 4 5 6 7 8 9 10 (2,239) 11 3,211 12 13 14 15 16 17 18 19 20
COOKIE CREATIONS INC. Retained Earnings Statement For the Two Months Ended December 31, 2009 1 2 3 4 5 6 7 8 9 10 Retained Earnings, beginning Add: Net Income Total Less; Dividends Retained Earnings, ending 3,211 3,211 (500) 2,711 1 2 3 4 5 6 7 8 9 10
COOKIE CREATIONS INC. Balance Sheet December 31, 2009 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Assets Current Assets Cash Accounts Receivable Baking Supplies Advertising Supplies Prepaid Insurance Total Current Assets Plant Assets Baking Equipment Accumulated Depreciation Website Total Assets 1,340 1,450 350 50 1,100 4,290 1,200 (40) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
Liabilities and Stockholders' Equity Accounts Payable Wages Payable Interest Payable Unearned Service Revenue Total Current Liabilities Notes Payable 75 56 23 360 514 2,000 2,514 800 2,711 3,511 6,025
Common Stock Retained Earnings Total Stockholders Equity Total Liabilities and Stockholders Equity
Date 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
Account Titles
Debit 5,450
Dec 31 Service Revenue Income Summary 31 Income Summary Wages Expense Telephone Expense Advertising Supplies Expense Depreciation Expense Amortization Expense Interest Expense Insurance Expense Baking Supplies Expense 31 Income Summary Retained Earnings 31 Retained Earnings Dividend
2,239
3,211
500
COOKIE CREATIONS INC. Trial Balance December 31, 2009 Debit 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Cash Accounts Receivable Advertising Supplies Baking Supplies Prepaid Insurance Baking Equipment Accumulated Depreciation, Baking Equipment Website Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable Common Stock Retained Earnings 6,065 1,340 1,450 50 350 1,100 1,200 575 Credit 1 2 3 4 5 6 40 7 8 75 9 23 10 56 360 2,000 800 2,711 11 12 13 14 15
16 Totals 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39
6,065 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39