Question

After researching the different forms of business organization. Natalie Koebel decides to operate “Cookie Creations” as a proprietorship. She then starts the process of operating the business. In November 2022, the following activities take place.

Nov. 8		Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account.
8		She opens a bank account under the name “Cookie Creations” and transfers $500 from her personal account to the new account.
11		Natalie pays $65 for advertising.
13		She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash. (Hint: Use Supplies account.)
14		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 $750. Natalie decides to start using it only in her new business. She estimates that the food processor is currently worth $300. She invests the food processor as equipment in the business.
16		Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $2,000 cash, for which Natalie signs a note payable in the name of the business. Natalie deposits the money in the business bank account. (Hint: The note does not have to be repaid for 24 months. As a result, the note payable should be reported in the accounts as the last liability and also on the balance sheet as the last liability.)
17		She buys more baking equipment for $900 cash.
20		She teaches her first class and collects $125 cash.
25		Natalie withdraws $100 from the business for personal expenditures.
30		Natalie pays $1,320 for a one-year insurance policy that will expire on December 1, 2023.

Prepare a transaction analysis using T-accounts. (Post entries in the order displayed in the problem statement.)

Answer 1

Answer:

The answer is given in the following attachments:

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Note: I am unable to attached excel file, I'm sorry.