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Continuing Cookie Creations OS b-9 (Part Level Submission) Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is to become the exclusive distributor of a line of fine European mixers. The current cost of a mixer is approximately $550, and Natalie would sell each one for $1,100. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be easily identified. In the end, Natalie decides to use the perpetual method of accounting for inventory, and the following transactions happen during the month of January, 12 Jan. 4 She buys five deluxe mixers on account from Kzinski Supply Co. for $2.750, terms 1/30. 6 She pays $100 freight on the January 4 purchase. 7 Natalie returns one of the mixers to Kzinski because it was damaged during shipping, Kzinski issues Cookie Creations credit for the cost of the mixer plus $20 for the cost of freight that was paid on January 6 for one mixer She collects the amount due from the neighborhood community center that was accrued at the end of December 2020. She sells three deluxe mixers on account for $3,300, FOB destination, terms n/30. The mixers cost $570 each (including freight). 13 Natalie pays her cell phone bill previously accrued in the December adjusting Journal entries. 14 She pays $75 of delivery charges for the three mixers that were sold on January 12. 14 She buys four deluxe mixers on account from Kzinski Supply Co. for $2,200, terms 130. 17 Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She issues additional common stock for $1,000. 18 She pays $80 freight on the January 14 purchase. 20 She sells two deluxe mixers for $2,200 cash, 28 Natalle issues a check to her assistant. Her assistant worked 20 hours in January and is also paid for the amount accrued at December 31, 2020. Recall that Natalie's assistant earns $8 an hour 28 Natalie collects amounts due from customers from the January 12 transaction 31 She pays Kzinski all amounts due. 31 Cash dividends of $750 are paid. COOKIE CREATIONS INC. Adjusted Trial Balance December 31, 2020 Debit Credit Cash $1,340 Accounts Receivable 1,450 Supplies 400 Prepaid Insurance 1,100 Equipment 1,200 Accumulated Depreciation-Equipment $40 Website 575 Accounts Payable 75 Interest Payable 23 Salaries and Wages Payable 56 Unearned Service Revenue 360 Notes Payable 2,000 Common Stock 800 Dividends 500 Service Revenue 5,450 Utilities Expense 125 Salaries and Wages Expense 856 Supplies Expense 1,070 Depreciation Expense 40 Amortization Expense 25 Interest Expense 23 Insurance Expense 100 $8,804 $8,804 Ignore income tax effects, problem.) Date Account Titles and Explanation Debit Credit M Jan. 4 Inventory 2750.00 Accounts Payable 2750.00 Jan. 6 . Freight-Out 100.00 Cash 100.00 Jan. 2 Accounts Payable 570.00 Inventory 570.00 Jan. 8 Cash 1450.00 Accounts Receivable 1450.00 . Jan. 12 Accounts Recevable 3300.00 Sales Revenue 3300.00 (To record sales revenue) Jan. 13 Cost of Goods Sold UT 1710.00 1710.00 Inventory (To record cost of goods sold) No Entry 0.00 0.00 No Entry 0.00 dan 14 Freight-Out 75,00 MacBook Pro JS Kimmel, Accounting, 7e Help System Announcements Jan. 14 0 Freight-Out 75.00 Cash 75.00 Jan. 14 Inventory 2200.00 M Accounts Payable 2200.00 Jan. 17 Cash 1000.00 Common Stock 1000.00 Jan. 18 Freight-Out 80.00 Cash 80.00 Jan. 20 Cash 2200.00 La Sales Revenue 2200.00 (To record sales revenue) Jan 20 Cost of Goods Sold 1140.00 Inventory (To record cost of goods sold) 1140.00 Jan. 26 Salaries and Wages Expense 160.00 Salaries and Wages Payable 56.00 216.00 (To record Natalie's assistant payment details) Jan. 2 Cash 3300.00 MacBook Pro Cash 216.00 (To record Natalie's assistant payment details) M Cash Jan. 28 3300.00 Accounts Receivable 3300.00 (To record amounts due from customers) Jan. 31 Accounts Payable 4380.00 Cash 4380.00 (To record payments made to Kzinski) Jan. 31 Dividends 750.00 Cash 750.00 (To record cash dividends paid) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT Attempts: 2 of 2 (62) ES 1 (62) Post the January 2021 transactions. (Post entries in the order of journal entries pre Cash Date Debit Credit Balance Explanation Balance By Accounts Receivable Date Explanation Debit Credit Balance Balance . Help System Announcements CES em Inventory Date Explanation Debit Credit Balance udy. Debit Credit Balance Debit Credit Balance Debit Credit Balance Supplies Date Explanation Balance Prepaid Insurance Date Explanation Balance Equipment Date Explanation + Balance Accumulated Depreciation-Equipment Date Explanation + Balance Website Date Explanation Balance Accounts Payable Date Enation Debit Credit Balance Debit Credit Balance Dabit Candit Balance MacEook Pro ES Balance Debit Credit Balance Website Date Explanation Balance Accounts Payable Date Explanation dy Debit Credit Balance Balance Salaries and Wages Payable Explanation Balance Date Debit Credit Balance Interest Payable Date Explanation Debit Credit Balance Balance Uneared Service Revenue Date Explanation Debit Credit Balance Balance Notes Payable Date Explanation Debit Credit Balance Balance Common Stock Date Exmlanation Debit Balance Help System Announcements Common Stock Date Explanation Debit Credit Balance Balance Retained Earnings Date Explanation Debit Credit Balance Balance Dividends Date Explanation Debit Credit Balance Sales Revenue Date Explanation Debit Credit Balance Cost of Goods Sold Date Explanation Debit Credit Balance Salaries and Wages Expense Date Explanation Debit Credit Balance Freight-out Date Explanation Debit Credit Balance Click if you would like to Show Work for this question: Open Show Work Continuing Cookie Creations OS b-9 (Part Level Submission) Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is to become the exclusive distributor of a line of fine European mixers. The current cost of a mixer is approximately $550, and Natalie would sell each one for $1,100. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be easily identified. In the end, Natalie decides to use the perpetual method of accounting for inventory, and the following transactions happen during the month of January, 12 Jan. 4 She buys five deluxe mixers on account from Kzinski Supply Co. for $2.750, terms 1/30. 6 She pays $100 freight on the January 4 purchase. 7 Natalie returns one of the mixers to Kzinski because it was damaged during shipping, Kzinski issues Cookie Creations credit for the cost of the mixer plus $20 for the cost of freight that was paid on January 6 for one mixer She collects the amount due from the neighborhood community center that was accrued at the end of December 2020. She sells three deluxe mixers on account for $3,300, FOB destination, terms n/30. The mixers cost $570 each (including freight). 13 Natalie pays her cell phone bill previously accrued in the December adjusting Journal entries. 14 She pays $75 of delivery charges for the three mixers that were sold on January 12. 14 She buys four deluxe mixers on account from Kzinski Supply Co. for $2,200, terms 130. 17 Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She issues additional common stock for $1,000. 18 She pays $80 freight on the January 14 purchase. 20 She sells two deluxe mixers for $2,200 cash, 28 Natalle issues a check to her assistant. Her assistant worked 20 hours in January and is also paid for the amount accrued at December 31, 2020. Recall that Natalie's assistant earns $8 an hour 28 Natalie collects amounts due from customers from the January 12 transaction 31 She pays Kzinski all amounts due. 31 Cash dividends of $750 are paid. COOKIE CREATIONS INC. Adjusted Trial Balance December 31, 2020 Debit Credit Cash $1,340 Accounts Receivable 1,450 Supplies 400 Prepaid Insurance 1,100 Equipment 1,200 Accumulated Depreciation-Equipment $40 Website 575 Accounts Payable 75 Interest Payable 23 Salaries and Wages Payable 56 Unearned Service Revenue 360 Notes Payable 2,000 Common Stock 800 Dividends 500 Service Revenue 5,450 Utilities Expense 125 Salaries and Wages Expense 856 Supplies Expense 1,070 Depreciation Expense 40 Amortization Expense 25 Interest Expense 23 Insurance Expense 100 $8,804 $8,804 Ignore income tax effects, problem.) Date Account Titles and Explanation Debit Credit M Jan. 4 Inventory 2750.00 Accounts Payable 2750.00 Jan. 6 . Freight-Out 100.00 Cash 100.00 Jan. 2 Accounts Payable 570.00 Inventory 570.00 Jan. 8 Cash 1450.00 Accounts Receivable 1450.00 . Jan. 12 Accounts Recevable 3300.00 Sales Revenue 3300.00 (To record sales revenue) Jan. 13 Cost of Goods Sold UT 1710.00 1710.00 Inventory (To record cost of goods sold) No Entry 0.00 0.00 No Entry 0.00 dan 14 Freight-Out 75,00 MacBook Pro JS Kimmel, Accounting, 7e Help System Announcements Jan. 14 0 Freight-Out 75.00 Cash 75.00 Jan. 14 Inventory 2200.00 M Accounts Payable 2200.00 Jan. 17 Cash 1000.00 Common Stock 1000.00 Jan. 18 Freight-Out 80.00 Cash 80.00 Jan. 20 Cash 2200.00 La Sales Revenue 2200.00 (To record sales revenue) Jan 20 Cost of Goods Sold 1140.00 Inventory (To record cost of goods sold) 1140.00 Jan. 26 Salaries and Wages Expense 160.00 Salaries and Wages Payable 56.00 216.00 (To record Natalie's assistant payment details) Jan. 2 Cash 3300.00 MacBook Pro Cash 216.00 (To record Natalie's assistant payment details) M Cash Jan. 28 3300.00 Accounts Receivable 3300.00 (To record amounts due from customers) Jan. 31 Accounts Payable 4380.00 Cash 4380.00 (To record payments made to Kzinski) Jan. 31 Dividends 750.00 Cash 750.00 (To record cash dividends paid) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT Attempts: 2 of 2 (62) ES 1 (62) Post the January 2021 transactions. (Post entries in the order of journal entries pre Cash Date Debit Credit Balance Explanation Balance By Accounts Receivable Date Explanation Debit Credit Balance Balance . Help System Announcements CES em Inventory Date Explanation Debit Credit Balance udy. Debit Credit Balance Debit Credit Balance Debit Credit Balance Supplies Date Explanation Balance Prepaid Insurance Date Explanation Balance Equipment Date Explanation + Balance Accumulated Depreciation-Equipment Date Explanation + Balance Website Date Explanation Balance Accounts Payable Date Enation Debit Credit Balance Debit Credit Balance Dabit Candit Balance MacEook Pro ES Balance Debit Credit Balance Website Date Explanation Balance Accounts Payable Date Explanation dy Debit Credit Balance Balance Salaries and Wages Payable Explanation Balance Date Debit Credit Balance Interest Payable Date Explanation Debit Credit Balance Balance Uneared Service Revenue Date Explanation Debit Credit Balance Balance Notes Payable Date Explanation Debit Credit Balance Balance Common Stock Date Exmlanation Debit Balance Help System Announcements Common Stock Date Explanation Debit Credit Balance Balance Retained Earnings Date Explanation Debit Credit Balance Balance Dividends Date Explanation Debit Credit Balance Sales Revenue Date Explanation Debit Credit Balance Cost of Goods Sold Date Explanation Debit Credit Balance Salaries and Wages Expense Date Explanation Debit Credit Balance Freight-out Date Explanation Debit Credit Balance Click if you would like to Show Work for this question: Open Show Work

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