Scribd Logo
Upload

Welcome to Scribd!

  • 43 views

    Cookie Creations Adjusted Trial Balance Tuesday, December 31, 2013

    Uploaded by

    Christopher Columbus
    The documents show the adjusted trial balance, income statement, statement of owner's equity, and classified balance sheet for Cookie Creations for the 2 months ended December 31, 2013. The company had net income of $489 and owner's equity of $1,939. The classified balance sheet shows total assets of $5,249 including current assets of $3,699 and total liabilities of $3,310 including current liabilities of $302.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Cookie Creations Adjusted Trial Balance Tuesday, December 31, 2013

    Uploaded by

    Christopher Columbus
    43 views17 pages
    The documents show the adjusted trial balance, income statement, statement of owner's equity, and classified balance sheet for Cookie Creations for the 2 months ended December 31, 2013. The company had net income of $489 and owner's equity of $1,939. The classified balance sheet shows total assets of $5,249 including current assets of $3,699 and total liabilities of $3,310 including current liabilities of $302.

    Original Description:

    Original Title

    Ch+4Cookie+assignment

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The documents show the adjusted trial balance, income statement, statement of owner's equity, and classified balance sheet for Cookie Creations for the 2 months ended December 31, 2013. The company had net income of $489 and owner's equity of $1,939. The classified balance sheet shows total assets of $5,249 including current assets of $3,699 and total liabilities of $3,310 including current liabilities of $302.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    43 views17 pages

    Cookie Creations Adjusted Trial Balance Tuesday, December 31, 2013

    Uploaded by

    Christopher Columbus
    The documents show the adjusted trial balance, income statement, statement of owner's equity, and classified balance sheet for Cookie Creations for the 2 months ended December 31, 2013. The company had net income of $489 and owner's equity of $1,939. The classified balance sheet shows total assets of $5,249 including current assets of $3,699 and total liabilities of $3,310 including current liabilities of $302.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 17

    Cookie Creations

    Adjusted Trial Balance


    Tuesday, December 31, 2013
    Debit Credit

    Cash  $ 2,929.00 

    A/R  $ 675.00 

    Supplies  $ 95.00 

    Equipment  $ 1,550.00 

    Acc Dep - Equipment  $ 78.00 

    A/P  $ 76.00 

    Salaries Payable  $ 48.00 

    Unearned Revenue  $ 100.00 

    Interest Payable  $ 8.00 

    Notes Payable (Due 11/14)  $ 3,000.00 

    N. Koebel, Capital  $ 1,450.00 

    Revenue  $ 1,225.00 

    Advertising Expense  $ 325.00 

    Salaries Expense  $ 48.00 

    Telephone Expense  $ 174.00 

    Supplies Expense  $ 103.00 

    Depreciation Expense  $ 78.00 

    Interest Expense  $ 8.00 

    Totals  $ 5,985.00   $ 5,985.00 


    Cookie Creations
    Income Statement
    For the 2 months ended December 31, 2013

    Revenue:

    Revenue

    Expense:

    Advertising Expense  $ 325.00 

    Salaries Expense  $ 48.00 

    Telephone Expense  $ 174.00 

    Supplies Expense  $ 103.00 

    Depreciation Expense  $ 78.00 

    Interest Expense  $ 8.00 

    Total Expense

    Net Income
    r 31, 2013

     $ 1,225.00 

    $736.00

    $489.00
    Cookie Creations
    Statement of Owner's Equity
    For the 2 months ended December 31, 2013

    N. Koebel, Capital Jan 1  $ 1,450.00 

    Add: Net income $489.00

    Less: Drawing

    Increase Owners Equity $1,939.00

    N. Koebel, Capital Dec 31 $1,939.00


    3
    Cookie Creations
    Classified Balance Sheet
    31-Dec-19

    Current Assets:

    Cash  $ 2,929.00 

    A/R  $ 675.00 

    Supplies  $ 95.00 

    Total Current Assets

    Long Term Asset

    Equipment  $ 1,550.00 

    Total Assets

    Current Liabilities

    Acc Dep - Equipment  $ 78.00 

    A/P  $ 76.00 

    Salaries Payable  $ 48.00 

    Unearned Revenue  $ 100.00 

    Total Current Liabilities

    Long Term Liabilities

    Interest Payable  $ 8.00 

    Notes Payable (Due 11/14)  $ 3,000.00 

    Total Long Term Liabilities

    Total Liabilities

    Owners Equity $1,939.00

    Total Liabilities + Owners Equity


    $3,699.00

    $5,249.00

    $302.00

    $3,008.00

    $3,310.00

    $5,249.00
    Working
    Capital $3,497.00

    Current
    Ratio $18.30

    Acid Test
    Ratio 25.9
    Closing
    Entries:

    Date Particulars PR Debit

    Dec 31 Service Revenue  $ 1,225.00 

    Income Summary

    Dec 31 Income Summary $736.00

    Advertising Expense

    Salaries Expense

    Telephone Expense

    Supplies Expense

    Depreciation Expense

    Interest Expense

    Dec 31 Income Summary $1,939

    Owners Captial
    Credit

    $1,225.00

     $ 325.00 

     $ 48.00 

     $ 174.00 

     $ 103.00 

     $ 78.00 

     $ 8.00 

    $1,939.00
    Post Closing Trial Balance

    Debit Credit
    Cash  $ 2,929.00 

    A/R  $ 675.00 

    Supplies  $ 95.00 

    Equipment  $ 1,550.00 

    Acc Dep - Equipment  $ 78.00 

    A/P  $ 76.00 

    Salaries Payable  $ 48.00 

    Unearned Revenue  $ 100.00 

    Interest Payable  $ 8.00 

    Notes Payable (Due 11/14)  $ 3,000.00 

    N. Koebel, Capital $1,939.00

    Totals $5,249.00 $5,249.00


    F) response to textbook question:

    You might also like