Continuing
Cookie Chronicle(CCC4)
CCC4 Cookie Creations is gearing up for the winter holiday season.
During the month of December 2014, the following transactions occur.
Final
Project Instructions and Templates
Name:
___________________________________
Final
Project
Due by
Day 7 of Week 6
This
project is worth _20_ points
MAKE SURE
TO COMPLETE ALL GRADED REQUIREMENTS LISTED BELOW.
It is
recommended that you complete the non-graded requirements for additional
practice
All of
the templates you need for the project are located in this Workbook.
The instructions
and data for the problem is in your Textbook (the "Continuing Cookie
Chronicle" at the end of the chapter).
Use the
arrow buttons (lower left corner of the window) to navigate through the tabs.
Submit
the ENTIRE Workbook (file) to your instructor for the Week 6 Final Project
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Requirements
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Sheet in Workbook
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Week One
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Chapter 1 and 2 "Continuing Cookie
Chronicle" -
Review the problem and make notes of your answers.
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Chapter 1 & 2 Notes (PRACTICE)
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Week Two
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Chapter 3, Part A, prepare journal entries to record the
November transactions
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Journal Entries (PRACTICE)
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Chapter 3, Part B, post the journal entries to the general
ledger accounts
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General Ledger (PRACTICE)
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Chapter 3, Part C, prepare a trial balance at November 30,
2014
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Trial Balance
(PRACTICE)
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Week Three
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Chapter 4, Part A, journalize the transactions
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Journal Entries (GRADED)
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Chapter 4, Part B, post the December transactions to the
general ledger accounts
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General Ledger (GRADED)
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Chapter 4, Part C, prepare a trial balance at December 31,
2014
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Trial Balance (GRADED)
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Chapter 4, Part D, prepare and post adjusting journal
entries for December
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Adjusting Entries (GRADED)
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Chapter 4, Part E, prepare adjusted trial balance at
December 31, 2014
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Adjusted Trial Balance (GRADED)
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Chapter 4, Part F, prepare an income statement, retained
earning statement and balance sheet
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Financial Statements (GRADED)
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Chapter 4, Part G, prepare and post closing entires as of
December 31, 2014
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Closing Entries (GRADED)
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Chapter 4, Part H, prepare a post-closing trial balance
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Post Closing TB (GRADED)
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Week Six
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Chapter 13 - Part A, prepare a horizontal and vertical
analysis
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Horiz. & Vert. Analysis (GRADED)
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Chapter 13 - Part B, Calculate several financial ratios as
indicated
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Financial Ratios (GRADED)
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CCC4 Cookie Creations is gearing up for the winter holiday season.
During the month of December 2014, the following transactions occur.
Dec. 1 Natalie hires an assistant at an hourly wage of $8 to help
with cookie making and some administrative duties.
5 Natalie teaches the class that was booked on November 25. The
balance outstanding is received.
8 Cookie Creations receives a check for the amount due from the
neighborhood school for the class given on November 30.
9 Cookie Creations receives $750 in advance from the local school
board for five classes that the company will give during December and January.
15 Pays the cell phone invoice outstanding at November 30.
16 Issues a check to Natalie’s brother for the amount owed for the
design of the website.
19 Receives a deposit of $60 on a cookie class scheduled for early
January.
23 Additional revenue earned 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.)
23 Additional supplies purchased during the month for sugar,
flour, and chocolate chips amount to $1,250 cash.
23 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.
28 Pays a dividend of $500 to the common shareholder (Natalie). As
of December 31, Cookie Creations’ year-end, the following adjusting entry data
are provided.
1. A count reveals that $45 of brochures and posters remain at the
end of December.
2. Depreciation is recorded on the baking equipment purchased in
November. The baking equipment has a useful life of 5 years. Assume that 2
months’ worth of depreciation is required.
3. Amortization (which is similar to depreciation) is recorded on
the website. (Credit the Website account directly for the amount of the
amortization.) The website is amortized over a useful life of 2 years and was
available for use on December 1.
4. Interest on the note payable is accrued. (Assume that 1.5
months of interest accrued during November and December.) Round to nearest
dollar.
5. One month’s worth of insurance has expired.
6. Natalie is unexpectedly telephoned on December 28 to give a
cookie class at the neighborhood community center on December 31. In early
January Cookie Creations sends an invoice for $450 to the community center.
7. A count reveals that $1,025 of baking supplies were used.
8. A cell phone invoice is received for $75. The invoice is for
services provided during the month of December and is due on January 15.
9. Because the cookie-making class occurred unexpectedly on
December 28 and is for such a large group of children, Natalie’s assistant helps
out. Her assistant worked 7 hours at a rate of $8 per hour.
10. An analysis of the unearned revenue account reveals that two
of the five classes paid for by the local school board on December 9 still have
not been taught by the end of December. The $60 deposit received on December 19
for another class also remains unearned.
Instructions
Using the information that you have gathered and the general
ledger accounts that you have prepared through Chapter 3, plus the new
information above, do the following.
(a) Journalize the above transactions.
(b) Post the December transactions. (Use the general ledger
accounts prepared in Chapter 3.)
(c) Prepare a trial balance at December 31, 2009. (c) Totals
$8,160
(d) Prepare and post adjusting journal entries for the month of
December.
(e) Prepare an adjusted trial balance as of December 31, 2014.
(f) Prepare an income statement and a retained earnings statement
for the 2-month period ending December 31, 2014, and a classified balance sheet
as of December 31, 2014.
(g) Prepare and post closing entries as of December 31, 2014.
(h) Prepare a post-closing trial balance.
File name: CCC4 Cookie Creations.xls File type: .doc PRICE: $40
