General
Cookie Creations General Entries for the month ended 30 November 2019
No. Particulars Debit Credit
1 Cost of Goods Sold 35
Supplies 35
2 Depreciation 20
Equipment 20
3 Interest Expense 60
Interest Payable 60
4 Notes Payable 41.66
Cash 41.66
5 Income Receivable 300
Service Revenue 300
6 Utility Expense 45
Utility Bill Payable 45
501.66 501.66
Adjusted trial
Cookie Creations
Adjusted trial balance for the month ended November 30, 2019
Particulars Debit Credit
Cash $ 203.34
Supplies $ 90.00
Prepaid Insurance $ 1,320.00
Equipment $ 1,180.00
Unearned service revenue $ 30.00
Notes Payable $ 1,958.34
Owner’s Capital $ 800.00
Service Revenue $ 425.00
Advertising Expense $ 65.00
Cost of goods sold $ 35.00
Depreciation $ 20.00
Interest Expense $ 60.00
Interest Payable $ 60.00
Income Receivable $ 300.00
Utility Expense $ 45.00
Utility Bill Payable $ 45.00
$ 3,318.34 $ 3,318.34
Profit
Cookie Creations
Profit for the month of November 2019
Revenue $ 425.00
Less: Cost of Goods Sold $ 35.00
Gross Profit $ 390.00
Operating Expenses
Advertising Expense $ 65.00
Deprecation $ 20.00
Interest Expense $ 60.00
Utility Expense $ 45.00 $ 190.00
$ 200.00
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