Professional Documents
Culture Documents
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 15 Dec. 1 5
Account Titles
Debit
Credit 1 2 3 90 4 5 6 300 7 8 9 10 750 11 12 50 13 50 14 15 16 600 17 18 19 60 20 21 22 3000 23 24 25 26 1000 27 28 29 1250 30 31 32 800 33 34 35 500 36 500 37 38 39 8400 40
Cash Teaching Revenue (Remaing amount for class on Dec 5) Cash Accounts Receivable (Payement for class on Nov 30) Cash Unearned Revenue (Payment for classes in Dec and Jan) Accounts Payable Cash (payment for Telephone Service) Accounts Payable Cash (payment for Website) Cash Unearned Revenue (deposit for class in Jan) Cash Teaching Revenue (Payment for classes in Dec and Jan) Accounts Receivable Teaching Revenue (Revenue for classes taught) Baking Supplies Cash (Baking supplies,- flour, sugar, chocolate chips) Salaries Expense Cash (Salary for Assistant- 100 hrs @ 8.00/hr) Dividends Cash (Paid a cash dividend) 800
90
300
750
16
600
19
60
23
3000
23
1000
23
1250
23
28
8400
Account Titles Advertising Supplies Expense Advertising Supplies (To record supplies used) Depreciation Expense Accumulated Depreciation- Baking Equipment (To record two months depreciation)
Debit 45
40
Ammortizied Expense Website (Ammortization of website for one month) Interest Expense Interest Payable (Interest paid for 1.5 months) Insurance Expense Prepaid Insurance (to record insurance expired) Accounts Receivable Teaching Revenue (to record revenue for class) Baking Supplies Expense Baking Supplies (to record baking supplies used) Telephone Expense Accounts Payable (to record telephone service charges) Salary Expense Salary Payable (to record salary for assitant) Unearned Revenue Teaching Revenue (to record classes not taught to date)
25
23
100
450
1025
75
56
450
(b), (d), and (g) 11/30 Bal Dec 5 Dec 8 Dec 9 Dec 19 Dec 23 Balance Cash 340 15-Dec 90 16-Dec 300 23-Dec 750 60 3000 4540 1340 23-Dec 28-Dec 50 600 1,250 800 500 3,200 15-Dec 16-Dec 11/30 Bal Balance Website 600 31-Dec 575 Accounts Payable 50 11/30 Bal 600 12/31/2010 Balance Accounts Receivable 11/30 Bal 300 8-Dec 23-Dec 1000 31-Dec Adj. 450 Balance 1450 300 Interest Payable 31-Dec Adj. 25
650 75 75
23
Balance Advertising Supplies 95 Dec 31 50 Baking Supplies 125 Dec 31 1250 350 Salaries Payable 12/31/2010 Adj. 45 Balance Unearned Revenue 12/31/2010 Adj. 60 11/30 Bal 12/31/2010 Adj. 450 9-Dec 12/19/2010 Balance Prepaid Insurance 1,200 31-Dec 1100 Baking Equipment 1,200 Common Stock 11/30 Bal Notes Payable 11/30 Bal
23 Adj. 56
56 60 750 60 360
1025
Adj. 100
2,000
11/30 Bal
800
Retained Earnings
(b), (d), and (g) (Continued) 28-Dec Balance Dividends 500 500 Income Summary 31-Dec Balance Depreciation Expense Adj. 40 40
Teaching Revenue 11/30 Bal 5-Dec 23-Dec 23-Dec 31-Dec 31-Dec Balance 11/30 Bal Dec 31 Balance Telephone Expense 50 75 125 Salaries Expense 800 Adj. 56 856
12/31/2010 400 150 3,000 1,000 Adj. 450 Adj. 450 5,450 Balance
COOKIE CREATIONS INC. 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 Website Accounts Payable Unearned Revenue Notes Payable Common Stock Dividends Teaching Revenue Telephone Expense Salaries Expense
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
Credit 1 2 3 4 5 6 40 7 8 75 9 23 10 56 360 2000 800 500 125 856 45 40 25 23 100 1025 8804 11 12 13 14 15
5450 16 17 18 19 20 21 22 23 24 8804 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 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Revenues: Teaching Revenue Expenses: Salary Expense Telephone Expense Advertising Expense Depreciation Expense Ammortization Expense Interest Expense Insurance Expense Baking Supplies Expense Net Income: 5450 856 125 45 40 25 23 100 1025 -2239 3211 1 2 3 4 5 6 7 8 9 10 11 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 Beginning Retained Earnings Add: Net Income Less: Dividends Ending Retained Earnings 0 3211 -500 2711 1 2 3 4 5 6 7 8 9 10
(f) (Continued) 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 Liabilities and Stockholders' Equity Accounts Payable Salaries Payable Interest Payable Unearned Revenue Notes Payable Total Liabilities Common Stock Retained Earnings Total Stockholders Equity 75 56 23 360 2000 2514 800 2711 3511 Assets Cash Accounts Receivable Baking Supplies Advertising Supplies Prepaid Insurance Baking Equipment (less 2 mo depreciation) Website (Less 1.5 mo ammrtization) Total Assets 1340 1450 350 50 1100 1160 575 6025 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
6025
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 31 Dec 31
Account Titles Teaching Revenue Income Summary (to close revenue account) Income Summary Salary Expense Telephone Expense Advertising Expense Deprcecation Expense Ammortization Expense Interest Expense Insurance Expense (to close expense account) Income Summary Retained Earnings
Debit 5450
31 2239
3211
31
(to close net income to retained earnings) Retained Earnings Dividends (to close dividneds to retained earnings) 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 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 Retained Earnings 6065 1340 1450 50 350 1100 1200 575 Credit 1 2 3 4 5 6 40 7 8 75 9 23 10 56 360 2000 800 2711 11 12 13 14 15
6065 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39
10