Cookie Creations (Chapter 4) This assignment is a continuation of the Cookie Creations case study from...

Cookie Creations (Chapter 4)

This assignment is a continuation of the Cookie Creations case study from Chapters 1–3. You will use the information from the previous chapters and from this chapter to complete the actions for the case study and to apply what you have learned to this point.

The Cookie Creations case study for Chapter 4 can be found below and also on pp. 4-51 to 4-52 in the textbook. The textbook provides you with the adjusted trial balance, and it is also located below for quick reference. Read the case information, and complete the actions listed below.

Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.

Using the information from the adjusted trial balance, complete the tasks below.

Prepare an income statement and an owner’s equity statement for the 2 months ended December 31, 2019, and a classified balance sheet as of December 31, 2019. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2021.
Natalie has decided that her year-end will be December 31, 2019. Prepare and post-closing entries as of December 31, 2019.
Prepare a post-closing trial balance.

Make sure to complete item “a” completely before moving to item “b,” and then move to item “c.” You cannot jump ahead unless you have completed each step sequentially in full.

Solutions

Expert Solution

ekkarill92 answered 10 months ago

Next > < Previous

Related Solutions

Continuing Cookie Chronicle (Note: This is a continuation of the Cookie Chronicle from Chapters 1 through...

Continuing Cookie Chronicle (Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 3.) CCC4 Cookie Creations is gearing up for the winter holiday season. During the month of December 2011, the following transactions occur. Dec. 1 Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some administrative duties. Dec. 5 Natalie teaches the class that was booked on November 25. The balance outstanding is received. Dec. 8 Cookie Creations...

Cookie Creations The balance sheet and income statement of Cookie & Coffee Creations Inc. for its...

Cookie Creations The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October 31, 2017, follows. COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31, 2017 Assets Current assets Cash $86,219 Accounts receivable 3,250 Inventory 17,897 Prepaid expenses 6,300 $113,666 Property, plant, and equipment Furniture and fixtures $12,500 Accumulated depreciation— furniture and fixtures (1,250) 11,250 Computer equipment 4,200 Accumulated depreciation— computer equipment (600) 3,600 Kitchen equipment 29,000 Accumulated depreciation—...

Assignment 2: Project Leadership Roles at TriHealth (Case Study from Chapter 3) Read the case titled:...

Assignment 2: Project Leadership Roles at TriHealth (Case Study from Chapter 3) Read the case titled: “Project Leadership Roles at TriHealth” found in Chapter 3. This assignment is about developing a specific project team for TriHealth. Identify the common roles in a human resource project. Then, analyze these roles to typical human resource functions. Reorganize any two (2) roles at TriHealth that result in shared responsibilities and then state why you chose those two roles. Suggest the short-term and long-term...

Part 5 Please prepare the adjusting entries for Cookie Creations. As of December 31, Cookie Creations’...

Part 5 Please prepare the adjusting entries for Cookie Creations. As of December 31, Cookie Creations’ year-end, the following adjusting entry data are provided. 1. A count reveals that $45 of brochures and posters were used. 2. Depreciation is recorded on the baking equipment purchased in November. The bak- ing equipment has a useful life of 5 years. Assume that 2 months’ worth of depreci- ation is required. 3. Amortization (which is similar to depreciation) is recorded on the website....

Part 5 Please prepare the adjusting entries for Cookie Creations. As of December 31, Cookie Creations’...

*C++ Program**** This assignment is the continuation of project 4, with the modification and improvement with...

*********C++ Program************ This assignment is the continuation of project 4, with the modification and improvement with the following modifications: In Frac.h, replace the methods addition (const Fraction & ), subtraction( const Fraction& ), multiply( const Fraction & ), divide( const Fraction & ), void printFraction() by overloading operators +, -, *, /, << respectively. Add overloading operators > and < so that they can compare two Fractions. Write your own implementation file which is named Frac2.cpp to replace Frac.cpp and...

From Chapter 4 Case Study 2- An Introduction to Management Science- A Qualitative Approach to Decision...

From Chapter 4 Case Study 2- An Introduction to Management Science- A Qualitative Approach to Decision Making 14e Schneider's sweet shop specializes in homade candies and ice cream. Schneider produces its ice cream in-house, in batches of 50 pounds. The first stage in ice cream making is blending of the ingredients to obtain a mix which meets pre-specified requirements on the percentages of certain constituents of the mix. The desired composition is as follows 1. Fat 16% 2. Serum Solids...

The project is adapted from the Chapter 4 Case Study dealing with North–South Airline In January...

The project is adapted from the Chapter 4 Case Study dealing with North–South Airline In January 2012, Northern Airlines merged with Southeast Airlines to create the fourth largest U.S. carrier. The new North–South Airline inherited both an aging fleet of Boeing 727-300 aircraft and Stephen Ruth. Stephen was a tough former Secretary of the Navy who stepped in as new president and chairman of the board. Stephen’s first concern in creating a financially solid company was maintenance costs. It was...

COOKIE CREATIONS Natalie Koebel spent much of her childhood learning the art of cookie-making from her...

COOKIE CREATIONS Natalie Koebel spent much of her childhood learning the art of cookie-making from her grandmother. They spent many happy hours mastering every type of cookie imaginable and later devised new recipes that were both healthy and delicious. Now in her second year in college, Natalie started investigating possibilities for starting her own business as part of the entrepreneurship program in which she is enrolled. A long-time friend insisted that Natalie include cookies in her business plan. After a...

COST ACCOUNTING ASSIGNMENT – CASE STUDY Read the case study below and answer the questions that...

COST ACCOUNTING ASSIGNMENT – CASE STUDY Read the case study below and answer the questions that follow. Ma Baker produce a mini-kitchen called Small Cook, which is enjoying extensive popularity amongst young children. The following data is available for the month: Selling price (per unit) R116 Units in opening inventory 600 Units manufactured 2 550 Units sold 3 050 Units in closing inventory 100 Variable costs per unit: Direct materials R12,00 Direct labour R50,00 Variable manufacturing overhead R6,50 Variable selling...

Subjects