This is a repost, please help me on my final paper, I had it extended until today, my last day, thanks.

bus_591_week_6_final_project_1.xls

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Journal Entries (GRADED)

REQUIREMENT #1:
During its first month of operation, the Rawls Repair Corporation, which specializes in bicycle repairs,
completed the following transactions:
Oct. 1	Began business by making a deposit in a company bank account of $12,000, in exchange
	for 1,200 shares of $10 par value common stock.
Oct. 1	Paid the premium on a one-year insurance policy, $1,200.
Oct. 1	Paid the current month's rent, $1,040.
Oct. 3	Purchased repair equipment from Conklin Company, $4,400. Paid $600 down and the balance was
	placed on account. Payments will be $200.00 per month for nineteen months. The first payment is due 11/1.
Use the following Template for the Journal Entries from Chapter 4: Continuing Cookie Chronicle
a) Prepare journal entries to record the November transactions
NOTE: This sheet WILL be graded when you submit your assignment
General Journal
Date	Description(Account Name)	Debit	Credit
2011 Nov. 8	Cash	500
	Common Stock		500
	(Issue of stock for cash)
11	Office Supplies	95
	Cash		95
	(Purchase of supplies)
14	Baking Supplies	125
	Cash		125
	(Purchase of supplies)
15	Equipment	300
	Common Stock		300
	(Equipment exchange for common stock)
16	Cash	2,000
	Notes Payable		2,000
	(To record note payable, 2-year 9% maturity)
17	Equipment	900
	Cash		900
	(Purchase of equipment)
25	Cash	60
	Unearned Service Revenue		60
	(Advance for future service)
29	Cash	100
	Service Revenue		100
	(Payment for services provided)
30	Website	600
	Accounts Payable		600
	(Received website development bill)
30	Prepaid Insurance	1,200
	Cash		1,200
	(Payed one year insurance policy, $100 x 12 expiration)
30	Accounts Receivable	300
	Service Revenue		300
	(Services performed on account)
30	Utilities Payable	50
	Accounts Payable		50
	(Received cell phone bill)

General Ledger (GRADED)

This Sheet will be used for Part B of Chapter 3
REQUIREMENT #2:
Post the journal entries to the following general ledger accounts and compute the account balances
NOTE: This sheet WILL be graded when you submit your assignment
Cash		Notes Payable
Nov. 8 500	Nov. 11 95		Nov. 16 2,000
Nov. 16 2,000	Nov. 14 125		Nov. 30. Bal 2,000
Nov. 25 60	Nov. 17 900
Nov. 29 100	Nov. 30 1,200	Accounts Payable
Nov. 30 Bal. 340			Nov. 30 600
			Nov. 30 50
Prepaid Insurance			Nov. 30. Bal 650
Nov. 30 1,200
Nov. 30 Bal. 1,200		Common Stock
			Nov. 8 500
Accounts Receivable			Nov. 15 300
Nov. 30 300			Nov. 30. Bal 800
Nov. 30 Bal. 300
		Service Revenue
Equipment			Nov. 29 100
Nov. 15 300			Nov. 30 300
Nov. 17 900			Nov. 30 Bal. 400
Nov. 30 Bal 1,200
		Unearned Service Revenue
Baking Supplies			Nov. 25 60
Nov. 11 125			Nov. 30. Bal. 60
Nov. 30 Bal 220
Utilities
Nov. 30 50
Nov. 30 Bal. 50
Website
Nov. 30 600
Nov. 30 Bal. 600
Office Supplies
Nov. 11 95
Nov. 30 Bal 95

Trial Balance (GRADED)

Part C (Chapter 4)
NOTE: This sheet WILL be graded when you submit your assignment
Prepare a Trial Balance for November 30, 2011
Cookie Creations, Inc.
Trial Balance
November 30, 2011
	Debit	Credit
Cash	$340
Prepaid Insurance	1,200
Accounts Receivable	300
Equipment	1,200
Supplies (baking/office)	220
Notes Payable		$2,000
Accounts Payable		650
Common Stock		800
Service Revenue		400
Unearned Service Revenue		60
Utilities Expense	50
Website	600
Total	$3,910	$3,910
*Remember debits MUST equal credits - if they do not, then there is an error somewhere. Double check your calculations and entries

Adjusting Entries (GRADED)

Chapter 4, Part D: Prepare and post adjusting entries for December

NOTE: This part WILL be graded when you submit your assignment to the instructorNOTE: This part WILL be graded when you submit your assignment to the instructor

General Journal

General Ledger

Trial Balance

General Journal

Cash

Service Revenue

Date

Description(Account Name)

Debit

Credit

Date

Description(Account Name)

Debit

Credit

Dec. 1 Bal. 340

Dec. 15 50

Dec. 1 Bal. 400

Debit

Credit

2011 Dec.

Adjusting Entries

2011 Dec. 5

Cash

5 90

16 600

5 150

Cash

$1,340

Office Supplies Expense ($95 - $45)

Unearnd Service Revenue

8 300

23 1,250

23 4,000

Accounts Receivable

1,000

Office Supplies

(Total payment for class booked 25 Nov.)

150

9 750

23 800

31 Adj. 450

Supplies (Office & Baking)

1,470

(To record supplies used)

Cash

300

19 60

28 500

31 Adj. 450

Equipment

1,200

Depreciation Expense ($1,200 / (5 x 12) x 2)

Account Receivable

300

23 3,000

Dec. 31 Closing $5,450

Dec. 31 Bal. $5,450

Prepaid Insurance

1,200

Accumulated Depreciation--

(Collection of payment for class 30 Nov.)

Dec. 31 Bal. $1,340

Website

600

Equipment

Cash

750

Salaries & Wages Expense

Accounts Payable

(To record bimonthly depreciation)

Unearned Service Revenue

750

Prepaid Insurance

Dec. 23 800

Unearned Service Revenue

$810

Amortization Expense ($600 / (2 x 12) x 1 )

(Advance for future service Dec./Jan.)

Dec. 1 Bal. 1,200

Dec. 31 Adj. 100

31 Adj. 56

Notes Payable

2,000

Website

Utilities Expense

Dec. 31 Bal. $1,100

Dec. 31 Bal. $856

Dec. 31 Closing $856

Common Stock

800

(To record website amortization)

Cash

Dividends

500

Interest Expense ($2,000 x 9% x 1.5/12)

(Paid cell phone bill)

Accounts Receivable

Amortization Expense

Service Revenue

4,550

Interest Payable

Accounts Payable

600

Dec. 1 Bal. 300

Dec. 8 300

Dec. 31 Adj. 25

Utilities Expense

(To record interest on notes payable)

Cash

600

23 1,000

Dec. 31 Bal. $25

Dec. 31 Closing $25

Salaries and Wages Expense

800

Insurance Expense ($100 x 12 expiration)

100

(Paid website development bill)

31 Adj. 450

Total

$8,160

Prepaid Insurance

100

Cash

Dec. 31 Bal. $1,450

Depreciation Expense

(To record insurance expired)

Unearned Service Revenue

Dec. 31 Adj. 40

Accounts Receivable

450

(Advance for future service Jan.)

Baking Supplies

Dec. 31 Bal. $40

Dec. 31 Closing $40

Servcie Revenue

450

Cash

3,000

Dec. 1 Bal. 125

Dec. 31 Adj. 1,025

(To record revenue earned)

Accounts Receivable

1,000

23 1,250

Office Supplies Expense

Baking Supplies Expense

1,025

(Total payments for Dec. classes)

4,000

Dec. 31 Bal. $350

Dec. 31 Adj. 45

Baking Supplies

1,025

Baking Supplies

1,250

Dec. 31 Bal. $45

Dec. 31 Closing $50

(To record supplies used)

Cash

1,250

Office Supplies

Utilities Expense

(To record supplies used)

Dec. 1 Bal. 95

Dec. 31 Adj. 45

Interest Expense

Accounts Payable

Salaries & Wages Expense

800

Dec. 31 Bal. $50

Dec. 31 Adj. 23

(To record cell phone bill)

Cash

800

Dec. 31 Bal. $23

Dec. 31 Closing $23

Salaries & Wages Expense ($8 x 7 hrs)

(Issued check to assistant)

Equipment

Salaries & Wages Payable

Dividends

500

Dec. 1 Bal. 1,200

Insurance Expense

(To record accrued salaries)

Cash

500

Dec. 31 Bal. $1,200

Dec. 31 Adj. 100

Unearned Service Revenue ($750 x 3/5)

450

(Paied dividend to shareholders)

Dec. 31 Bal. $100

Dec. 31 Closing $100

Service Revenue

450

Website

(To record revenue earned)

Dec. 1 Bal. 600

Dec. 31 Adj. 25

Utilities Expense

Dec. 31 Bal. $575

Dec. 1 Bal 50

31 Adj. 75

Accounts Payable

Dec. 31 Bal. $125

Dec. 31 Closing $125

Dec. 15 50

Dec. 1 Bal. 650

Dec. 16 600

Dec. 31 Adj. 75

Baking Supplies Expense

Dec. 31 Bal. $75

Dec. 31 Adj. 1,025

Dec. 31 Bal. $1,025

Dec. 31 Closing $1,025

Unearned Service Revenue

Dec. 5 60

Dec. 1 Bal. 60

Dividends

31 Adj. 450

9 750

Dec. 28 500

19 60

Dec. 31 Bal. $500

Dec. 31 Closing $500

Dec. 31 Bal. $360

Income Summary

Notes Payable

Dec. 31 Closing 2,239

Dec. 31 Closing 5,450

Dec. 1 Bal. 2,000

Dec. 31 Closing 3,211

Dec. 31 Bal. $2,000

Retained Earnings

Salaries & Wages Payable

Dec. 31 Closing 500

Dec. 31 Closing 3,211

Dec. 31 Adj. 56

Dec. 31 Bal. $2,711

Dec. 31 Bal. $56

Accumulated Depreciation Equipment

Dec. 31 Adj. 40

Dec. 31 Bal. $40

Common Stock

Dec. 1 Bal. 800

Dec. 31 Bal. $800

Interest Payable

Dec. 31 Adj. 23

Dec. 31 Bal. $23

Adjusted TB (GRADED)

Chapter 4, Part E: Prepare an adjusted trial balance
Note: This part WILL be graded when you submit your assignment to the instructor
Cookie Creations Inc
Adjusted Trial Balance
December 31, 2011
	Debit	Credit
Cash	$1,340
Accounts Receivable	1,450
Supplies (Office & Baking)	400
Prepaid Insurance	1,100
Equipment	1,200
Accumulated Depreciation--Equipment		$40
Website	575
Interest Payable		23
Salaries and Wages Payable		56
Accounts Payable		75
Unearned Service Revenue		360
Notes Payable		2,000
Service Revenue		5,450
Common Stock		800
Dividends	500
Salaries and Wages Expense	856
Utilities Expense	125
Insurance Expense	100
Amortization Expense	25
Interest Expense	23
Depreciation Expense	40
Supplies Expense (Office & Baking)	1,070
Total	$8,804	$8,804

Financial Statements (GRADED)

Chapter 4, Part F: Prepare financial statement
Note: This part WILL be graded when you submit your assignment to the instructor
You will only be preparing the Income Statement, Statement of Retained Earning and the Balance Sheet.
Cookie Creations Inc			Cookie Creations		Cookie Creations
Income Statement			Statement of Retained Earnings		Balance Sheet
For the Month Ending December 31, 2011			For the Month Ending December 31, 2011		December 31, 2011
Revenues:			Retained Earnings, November 1	--	Current Assets
Service Revenue		$5,450	Add: Net Income	3,211	Cash	$1,340
			Subtotal	$3,211	Accounts Receivable	1,450
Operating Expenses:			Less: Dividends	500	Supplies (Office & Baking)	400
Supplies Expense	$1,070		Retained Earnings, December 31	$2,711	Prepaid Insurance	1,100
Salaries and Wages Expense	856				Total Current Assets		$4,290
Utilities Expense	125				Property, Plant & Equipment
Insurance Expense	100				Equipment	1,200
Amortization Expense	25				Less: Accumulated Depreciation	40	1,160
Interest Expense	23				Intangible Assets
Depreciation Expense	40				Website		575
Total Operating Expenses		2,239			Total Assets		$6,025
Net Income		$3,211			Liabilities & Stockholder's Equity
					Unearned Service Revenue	360
					Accounts Payable	75
					Salaries and Wages Payable	56	491
					Total Current Liabilities		$491
					Long- Term Liabilities
					Notes Payable	2,000
					Interest payable	23	2,023
					Total Liabilities		$2,514
					Stockholder's Equity
					Common stock	800
					Retained earning	2,711	3,511
					Total Stockholder's Equity		$3,511
					Total Liabilities & Stockholder's Equity		$6,025
*Remember, Assets and liabilities MUST be the same amount. If they are different, then there is an error somewhere. Double check your calculations and entries

Closing Entries (GRADED)

Chapter 4 - Part G: Prepare closing entries
Note: This part WILL be graded when you submit your assignment to the instructor
Hint: use the balances for each account which appear on the Adjusted Trial Balance for your closing entries.
	General Journal
Date	Description (Account Name)	Debit	Credit
2011 Dec. 31	Service Revenue	5,450
	Income Summary		5,450
31	Income Summary	2, 239
	Supplies Expense (Office & Baking)		1,070
	Salaries and Wages Expense		856
	Utilities Expense		125
	Insurance Expense		100
	Depreciation Expense		40
	Amortization Expense		25
	Interest Expense		23
31	Income Summary	3,211
	Retained Earnings		3,211
31	Retained Earnings	500
	Dividends		500

Post Closing TB (GRADED)

Chapter 4 - Part H: Prepare post-closing trial balance
Note: This part WILL be graded when you submit your assignment to the instructor
Cookie Creations
Post-Closing Trial Balance
December 31, 2011
Cash	$1,340
Accounts Receivable	1,450
Supplies (Office & Baking)	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
Retained Earnings		2,711
Total	$6,065	$6,065