Question

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 equipment is currently worth $300. She invests the 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 books a second class for December 4 for $150. She receives $30 cash in advance as a down payment.
30		Natalie pays $1,320 for a one-year insurance policy that will expire on December 1, 2020. COOKIE CREATIONS Trial Balance November 30, 2019For the Quarter Ended November 30, 2019For the Year Ended November 30, 2019 Debit Credit $ $     Totals $ $

Answer 1

A:- prepare journal entries

Date	General journal	Debit (in$)	Credit (In$)
8 Nov.	No entry
8 Nov.	Cash	500
	To common stock		500
11 Nov	Advertising	65
	To cash		65
13 Nov	supplies	125
	To cash		125
14 Nov	equipment	300
	To common stock		300
16 Nov	cash	2000
	To notes payable		2000
17 Nov	Equipment	900
	To cash		900
20 Nov	cash	125
	To service revenue		125
25 Nov	cash	30
	To unearned service revenue		30
30 Nov	prepaid insurance	1320
	To cash		1320

B:- trial balance

Trial balance

November 30,2019

Account	Debit ($)	Credit ($)
Cash	245
Account receivable	300
Supplies	90
Prepaid insurance	1320
Equipment	1200
Accumulated depreciation- equipment		20
Account payable		45
Interest payable		5
Unearned service revenue		30
Notes payable		2000
Common stock		800
Service revenue		425
Utilities expenses	45
Advertising expenses	65
Supplies expenses	35
Depreciation expense	200
Interest expense	5
Totals	$3325	$3325