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    Journal Entries: (To Record Issuance of Common Stock in Exchange of Equipment)

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    Tuấn Việt Âu Dương
    The document contains journal entries made by Natalie's Cookies Creations Inc. from November 8-30. It records various transactions including issuing stock for cash, purchasing supplies and equipment, receiving cash from notes payable, prepaying insurance, and providing and billing for services. The journal entries are used to update ledger accounts and prepare a trial balance as of November 30th that lists the balances of cash, accounts receivable, supplies, prepaid insurance, equipment, website, accounts payable, unearned revenue, notes payable, common stock, service revenue, and utilities expense.

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    Journal Entries: (To Record Issuance of Common Stock in Exchange of Equipment)

    Uploaded by

    Tuấn Việt Âu Dương
    10 views4 pages
    The document contains journal entries made by Natalie's Cookies Creations Inc. from November 8-30. It records various transactions including issuing stock for cash, purchasing supplies and equipment, receiving cash from notes payable, prepaying insurance, and providing and billing for services. The journal entries are used to update ledger accounts and prepare a trial balance as of November 30th that lists the balances of cash, accounts receivable, supplies, prepaid insurance, equipment, website, accounts payable, unearned revenue, notes payable, common stock, service revenue, and utilities expense.

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    Homework

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    The document contains journal entries made by Natalie's Cookies Creations Inc. from November 8-30. It records various transactions including issuing stock for cash, purchasing supplies and equipment, receiving cash from notes payable, prepaying insurance, and providing and billing for services. The journal entries are used to update ledger accounts and prepare a trial balance as of November 30th that lists the balances of cash, accounts receivable, supplies, prepaid insurance, equipment, website, accounts payable, unearned revenue, notes payable, common stock, service revenue, and utilities expense.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    10 views4 pages

    Journal Entries: (To Record Issuance of Common Stock in Exchange of Equipment)

    Uploaded by

    Tuấn Việt Âu Dương
    The document contains journal entries made by Natalie's Cookies Creations Inc. from November 8-30. It records various transactions including issuing stock for cash, purchasing supplies and equipment, receiving cash from notes payable, prepaying insurance, and providing and billing for services. The journal entries are used to update ledger accounts and prepare a trial balance as of November 30th that lists the balances of cash, accounts receivable, supplies, prepaid insurance, equipment, website, accounts payable, unearned revenue, notes payable, common stock, service revenue, and utilities expense.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 4

    Journal entries

    Date Acount title and explaination Debit


    8-Nov Personal entry
    (Natalie deposits the cash on her personal bank account)
    8-Nov No entry because there is no transaction
    (Natalie opens a bank account)
    8-Nov Cash $500.00
    Common Stock
    (Issue stock fot cash)
    11-Nov Supplies $95.00
    Cash
    (To record purchase of paper and other office supplies for cash)
    14-Nov Supplies $125.00
    Cash
    15-Nov Equipment $300.00
    Common Stock
    (To record issuance of common stock in exchange of equipment)
    16-Nov Cash $2,000.00
    Notes payable
    (To record cash received in exchange of notes )
    17-Nov Equipment $900.00
    Cash
    (To record purchase of baking equipment)
    18-Nov No entry
    25-Nov Cash $60.00
    Unearned Revenue
    (record cash received in advance for services to be performed)
    29-Nov Cash $100.00
    Service Revenue
    (service performed for cash)
    30-Nov Website $600.00
    Account payable
    (record purchase of website on account)
    30-Nov Prepaid insurance $1,200.00
    Cash
    (Record payment of insurance)
    30-Nov Account Receivable $300.00
    Service Revenue
    (billed client for service rendered)
    30-Nov Utilities expense $50.00
    Account payable
    (Record payment of utilities on account)
    Ledger Account
    Credit Cash
    8-Nov $500.00 11-Nov $95.00
    16-Nov $2,000.00 14-Nov $125.00
    25-Nov $60.00 17-Nov $900.00
    29-Nov $100.00 30-Nov $1,200.00
    Bal. $340.00
    $500.00
    Account Receivable
    30-Nov $300.00
    $95.00 Bal. $300.00
    Supplies
    11-Nov $95.00
    $125.00 14-Nov $125.00
    Bal. $220.00
    $300.00 Prepaid Insurance
    30-Nov $1,200.00
    Bal. $1,200.00
    $2,000.00 Equipment
    15-Nov $300.00
    17-Nov $900.00
    $900.00 Bal. $1,200.00
    Website
    30-Nov $600.00
    Bal. $600.00
    $60.00 Account payable
    30-Nov $600.00
    30-Nov $50.00
    $100.00 Bal. $650.00
    Unearned service revenue
    25-Nov $60.00
    $600.00 Bal. $60.00
    Notes payable
    16-Nov $2,000.00
    $1,200.00 Bal. $2,000.00
    Common Stock
    8-Nov $500.00
    $300.00 15-Nov $300.00
    Bal. $800.00
    Serrvice Revenue
    $50.00 29-Nov $100.00
    30-Nov $300.00
    Bal. $400.00
    Utilities Expense
    30-Nov $50.00
    Bal. $50.00
    Trial Balance
    COOKIES CREATIONS INC.
    Trial balance
    For the month ended Nov 30, 2014
    Cash $340.00
    Accounts Receivable $300.00
    Supplies $220.00
    Prepaid insurance $1,200.00
    Equipment $1,200.00
    Website $600.00
    Accounts Payable $650.00
    Unearned Service Revenue $60.00
    Notes Payable $2,000.00
    Common Stock $800.00
    Service Revenue $400.00
    Utilities Expense $50.00
    Total $3,910.00 $3,910.00

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