urrent Attempt in Progress

After researching the different forms of business organization. Natalie Koebel decides to operate "Cookie Creations" as a

proprietorship. She then starts the process of operating the business. In November $2022,$ the following activities take place.

Nov. $8$ Natalie cashes her U$.$S$.$ Savings Bonds and receives $$520,$ which she deposits in her personal bank account.

$8$ She opens a bank account under the name "Cookie Creations" and transfers $$500$ from her personal account to the new

account.

$11$ Natalie pays $$65$ for advertising.

$13$ She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $$125$ cash. $($Hint: Use Supplies account.$)$

$14$ Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent

top$-$of$-$the$-$line food processor and mixer that originally cost her $$750.$ Natalie decides to start using it only in her new

business. She estimates that the food processor is currently worth $$300.$ She invests the food processor as equipment in

the business.

$16$ Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $$2,000$ cash, for which Natalie

signs a note payable in the name of the business. Natalie deposits the money in the business bank account. $($Hint: The note

does not have to be repaid for $24$ months. As a result, the note payable should be reported in the accounts as the last

liability and also on the balance sheet as the last liability.$)$

$17$ She buys more baking equipment for $$900$ cash.

$20$ She teaches her first class and collects $$125$ cash.

$25$ Natalie withdraws $$100$ from the business for personal expenditures.

$30$ Natalie pays $$1,320$ for a one$-$year insurance policy that will expire on December $1,2023.$

$($a$)$

Prepare a transaction analysis using T$-$accounts. $($Post entries in the order displayed in the problem statement.$)$

Notes Payable

Owners Capital

urrent Attempt in Progress

After researching the different forms of business organization. Natalie Koebel decides to operate "Cookie Creations" as a

proprietorship. She then starts the process of operating the business. In November $2022,$ the following activities take place.

Nov. $8$ Natalie cashes her U$.$S$.$ Savings Bonds and receives $$520,$ which she deposits in her personal bank account.

$8$ She opens a bank account under the name "Cookie Creations" and transfers $$500$ from her personal account to the new

account.

$11$ Natalie pays $$65$ for advertising.

$13$ She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $$125$ cash. $($Hint: Use Supplies account.$)$

$14$ Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent

top$-$of$-$the$-$line food processor and mixer that originally cost her $$750.$ Natalie decides to start using it only in her new

business. She estimates that the food processor is currently worth $$300.$ She invests the food processor as equipment in

the business.

$16$ Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $$2,000$ cash, for which Natalie

signs a note payable in the name of the business. Natalie deposits the money in the business bank account. $($Hint: The note

does not have to be repaid for $24$ months. As a result, the note payable should be reported in the accounts as the last

liability and also on the balance sheet as the last liability.$)$

$17$ She buys more baking equipment for $$900$ cash.

$20$ She teaches her first class and collects $$125$ cash.

$25$ Natalie withdraws $$100$ from the business for personal expenditures.

$30$ Natalie pays $$1,320$ for a one$-$year insurance policy that will expire on December $1,2023.$