Journalize the following transactions. These are the lists of accounts that are usedaccounts payableaccumulated depreciation - buildingsaccumulated depreciation - equipmentadvertising expenseamortization expensebuildingscashcommon stockdepreciation expensedividendsequipmentincome tax summaryincome tax expenseincome taxes payableinsurance expenseinterest expenseinterest payablelandmaintenance and repairs expensemortgage payableno entrynotes payableprepaid advertisingprepaid insuranceprepaid rentrent expenserent revenueretained earningssalaries and wages expensesalaries and wages payablesales revenueservice revenuesuppliessupplies expenseunearned rent revenueunearned sales revenueunearned service revenueutility expensewebsite Cookie Creations is gearing up for the winter holiday season. During the month of December 2025, the following transactions occur.Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some administrative duties.Natalie teaches the class that was booked on November 25 when a $60 deposit on the class was paid in advance. The $90balance outstanding is received.Dec. 158915161923232328Cookie Creations receives a $300 check for the amount due from the neighborhood school for the class given onNovember 30.Cookie Creations receives $750 in advance from the local school board for five classes that the company will give duringDecember and January.Pays the $50 cell phone invoice outstanding at November 30.Issues a check to Natalie's brother for the $600 amount owed for the design of the website.Receives a deposit of $60 on a cookie class scheduled for early January.Additional revenue during the month for cookie-making classes amounts to $4,000. (Natalie has not had time to accountfor each class individually.) $3,000 in cash has been collected and $1,000 is still outstanding. (This is in addition to theDecember 5 and December 9 transactions.)Additional baking supplies purchased during the month for sugar, flour, and chocolate chips amount to $1,250 paid incash.Issues a check to Natalie's assistant for $800. Her assistant worked approximately 100 hours from the time in which shewas hired until December 23.Pays a dividend of $500 to the common shareholder (Natalie).

Answered: Cookie Creations is gearing up for the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Journalize the following transactions. These are the lists of accounts that are used

accounts payable
accumulated depreciation - buildings
accumulated depreciation - equipment
advertising expense
amortization expense
buildings
cash
common stock
depreciation expense
dividends
equipment
income tax summary
income tax expense
income taxes payable
insurance expense
interest expense
interest payable
land
maintenance and repairs expense
mortgage payable
no entry
notes payable
prepaid advertising
prepaid insurance
prepaid rent
rent expense
rent revenue
retained earnings
salaries and wages expense
salaries and wages payable
sales revenue
service revenue
supplies
supplies expense
unearned rent revenue
unearned sales revenue
unearned service revenue
utility expense
website

Cookie Creations is gearing up for the winter holiday season. During the month of December 2025, the following transactions occur.
Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some administrative duties.
Natalie teaches the class that was booked on November 25 when a $60 deposit on the class was paid in advance. The $90
balance outstanding is received.
Dec. 1
5
8
9
15
16
19
23
23
23
28
Cookie Creations receives a $300 check for the amount due from the neighborhood school for the class given on
November 30.
Cookie Creations receives $750 in advance from the local school board for five classes that the company will give during
December and January.
Pays the $50 cell phone invoice outstanding at November 30.
Issues a check to Natalie's brother for the $600 amount owed for the design of the website.
Receives a deposit of $60 on a cookie class scheduled for early January.
Additional revenue during the month for cookie-making classes amounts to $4,000. (Natalie has not had time to account
for each class individually.) $3,000 in cash has been collected and $1,000 is still outstanding. (This is in addition to the
December 5 and December 9 transactions.)
Additional baking supplies purchased during the month for sugar, flour, and chocolate chips amount to $1,250 paid in
cash.
Issues a check to Natalie's assistant for $800. Her assistant worked approximately 100 hours from the time in which she
was hired until December 23.
Pays a dividend of $500 to the common shareholder (Natalie).

Expert Solution

Step 1

Journal Entry :- The act of logging any transaction, whether or not it is an economic one, is known as a journal entry. Transactions are recorded in an accounting journal that shows the debit and credit balances of a company. The journal entry contains multiple records, each of which is either a debit or a credit. The purpose of preparing the journal entry to segregate the transaction which are incurred to the debit and credit basis. Debit all expenses related transaction and credit all income related transaction.

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