Ccc4 natalie had a very busy december at the end of the

Reference no: EM13608089

CCC4 Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance. COOKIE CREATIONS Adjusted Trial Balance December 31, 2011 Debit Credit Cash $1,180 Accounts Receivable 875 Supplies 350 Prepaid Insurance 1,210 Equipment 1,200 Accumulated Depreciation-Equipment $???40 Accounts Payable 75 Salaries and Wages Payable 56 Interest Payable 15 Unearned Service Revenue 300 Notes Payable 2,000 Owner's Capital 800 Owner's Drawings 500 Service Revenue 4,515 Salaries and Wages Expense 1,006 Utilities Expense 125 Advertising Expense 165 Supplies Expense 1,025 Depreciation Expense 40 Insurance Expense 110 Interest Expense 15 $7,801 $7,801 Instructions Using the information in the adjusted trial balance, do the following.

(a) Prepare an income statement and an owner's equity statement for the 2 months ended December 31, 2011, and a classified balance sheet as at December 31, 2011. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2013.

(b) Natalie has decided that her year-end will be December 31, 2011. Prepare and post closing entries as of December 31, 2011.

(c) Prepare a post-closing trial balance I am not sure how to make a income statement. This assignment is due in about a hour can you please help me?

Reference no: EM13608089

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