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Emma Holmes opened a catering business called Great Dining. At the beginning of the month, opening balances are shown below. During March 2022, Emma had

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Emma Holmes opened a catering business called Great Dining. At the beginning of the month, opening balances are shown below. During March 2022, Emma had the following transactions. Opening Balances Cash $5,4101 Accounts Receivable $1,450 Prepaid Rent $1,410 Automobile $4,930 Accounts Payable $1,510 Unearned Revenue $5,020 Holmes, Capital $6,670 1) Invested $18,500 of personal funds to start the business. 2) Paid $790 cash for maintenance. 3) Received a bill for travel costs for $1,220, which will be paid later. 4) Provided catering services worth $4,200. The client paid $1,680 cash and will pay the rest later. 5) Paid $1,220 for the on account purchase in transaction 3. 6) Provided $1,230 in services for a customer who will pay next month. 7) Emma paid $1,090 cash for living expenses. 8) Received a $1,050 cheque from a customer as a deposit for catering in two months. 9) Paid three months of office rent costing $1,090 in advance. 10) Paid $1,100 cash for employee wages 11) Received a $890 cheque from a customer paying their account. 12) Purchased a second-hand car worth $8,000 for business use with cash. 13) Received a bill for utilities amounting to $480, which will be paid in 30 days. Great Dining Balance Sheet As at March 31, 2022 Assets (what we OWN) Liabilities (what we OWE) Increase Decrease Decrease Increase Cash Accounts Payable Opening: $ Opening: $ Transaction # 1 Transaction # 1 Transaction # 2 Transaction # 2 Transaction # 3 Transaction # 3 Transaction #4 Transaction #4 Transaction # 5 Transaction # 5 Transaction # 6 Transaction #6 Transaction # 7 Transaction # 7 Transaction # 8 Transaction #8 Transaction #9 Transaction #9 Accounts Receivable Unearned Revenue Opening: $ Opening: $ Transaction # 1 Transaction # 1 Transaction # 2 Transaction # 2 Transaction #3 Transaction #3 Transaction # 4 Transaction #4 Transaction # 5 Transaction # 5 Transaction # 6 Transaction # 6 Transaction #7 Transaction # 7 Transaction #8 Transaction #8 Transaction #9 Transaction #9 Transaction # 10 Transaction # 10 Transaction # 11 Transaction # 11 Increase Decrease Decrease Prepaid Rent Increase Holmes, Capital Opening: $ Opening: $ Transaction # 1 Transaction # 1 Transaction # 2 Transaction # 2 Transaction # 3 Transaction #3 Transaction #4 Transaction #4 Transaction #5 Transaction # 5 Transaction # 6 Transaction # 6 Transaction #7 Transaction #7 Transaction #8 Transaction #8 Transaction #9 Transaction #9 Transaction # 10 Transaction # 10 Increase Decrease Increase Decrease Holmes, Drawings Automobile Opening: $ Transaction # 1 Transaction #1 Transaction # 2 Transaction # 2 Transaction # 3 Transaction # 3 Transaction #4 Transaction # 4 Transaction #5 Transaction #5 Transaction #6 Transaction #6 Transaction # 7 Transaction # 7 Transaction # 8 Transaction #8 Transaction #9 Transaction #9 Transaction # 10 Transaction # 10 Great Dining Income Statement For the Month Ended March 30, 2022 REVENUE Decrease - Increase + Transaction # 1 Transaction # 2 Transaction #3 Transaction #4 Transaction # 5 Transaction # 6 Transaction # 7 Transaction # 8 Transaction #9 Transaction # 10 Expenses Increase Decrease Increase Decrease Maintenance Wages Transaction # 1 Transaction # 1 Transaction # 2 Transaction # 2 Transaction # 3 Transaction # 3 Transaction #4 Transaction #4 Transaction # 5 Transaction #5 Transaction #6 Transaction #6 Transaction #7 Transaction #7 Transaction #8 Transaction #8 Transaction #9 Transaction #9 Transaction # 10 Transaction # 10 Increase Decrease Increase Decrease Travel Utilities Transaction # 1 Transaction #1 Transaction # 2 Transaction #2 Transaction #3 Transaction #3 Transaction #4 Transaction #4 Transaction # 5 Transaction #5 Transaction # 6 Transaction #6 Transaction # 7 Transaction # 7 Transaction #8 Transaction # 8 Transaction #9 Transaction #9 b) Prepare a trial balance to verify the transactions were recorded properly. Great Dining Trial Balance As at March 31, 2022 Account Titles DR CR Cash Accounts Receivable Prepaid Rent Automobile Accounts Payable Unearned Revenue Holmes, Capital Holmes, Drawings Revenue Maintenance Wages Travel Utilities Total

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