This assignment is a continuation of the Cookie Creations case study from Chapters 1 and 2. You will use the information from the previous chapters and follow the instructions below using the general ledger accounts that you previously created.
Review the case information below and also on p. 3-54 of the textbook. Then, complete action items a–c). This assignment will allow you to practice what you have learned so far.
It is the end of November, and Natalie has been in touch with her grandmother. Natalie’s grandmother asked her how well things went in her first month of business. Natalie, too, would like to know if she has been profitable or not during November. Natalie realizes that in order to determine Cookie Creations’ income, she must first make adjustments.
Natalie puts together the information shown below.
Using the trial balance from Chapter 2 and based on the new information provided above, complete the tasks below.
Note: Do not prepare an income statement.
Make sure to complete item “a” completely before moving to item “b,” and then move to item “c.” You cannot jump ahead unless you have completed each step sequentially in full.
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