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Homework - Page I Of 6 Inscector nng MMCh of ths yean SpongeBob Squarepanls opened up a calenng business called SquarePants Party nncrs. SpongeBob hired Patrick Star as an assistant. SpongeBob has decided to use the following accounts Inspector Zoom Share Highlight Rotate Markup Vorm sea Cash Accounts Receivable Baking Supplies Prepaid Insurance Catering Equipment Liabilities A cccnmts Payable Owner S Equity Catering Revenue E-yxn.ses Rent Expense Wages Expense Utilities Expense Advertising Expcnsc Sp(YigeBd' Squarepants, Capital SpongeBob Squarepants. Drawing fdlowing transactions were completed during March; x Dept' ted $21 , SOO in a bank acumant in the name Of SquarePants party Planners b. Purchased annual insurance policy, $3,600. catering equipment, including a crab cake warmer fer S7.200 from Squidward C. Appliances. Paid $2,500 in cash, with the balance due in thirty days and paid telephcme bill. S230. (Utilities Expense) Provided catering services on account, $4. I SO. paid for advertising in Pineapple Gaztte, S 125. BKA1ght baking supplies accaant, S420. g. Provided catering services for cash. Sl 250. Paid Patrick Star' s wages of S800 for first half of month. paid monthly rent for spongeboat. $675. Provided catering services on account, S3.2S0. k. Spongebob withdrew $300 for personal use. Provided catering services cash, SW), m. Paid $200 on account for baking supplies purchased earlier in the month. Received and paid propane bill, $525, (Utilities Expense) o, tinued on next page.. Homework - Squarepm Transactions c'tinued p. Receivexi cash from clients on S2, 4(). q. baking qxpplies cash, S3SO r. Paid Patrick Star' s wages of for second half of month. Instructions: 2. Develop T-accounts for each in the Chart Of Enter the transactions in the amyopriate balance the Prepare a Trial Balance. Income Statement. a Statement Of Owner's Equity, and a Balance Sheet SqnrePants party Planners fM the mcmth Of March of ths yeU. page o' 6 Debit Debit Credit credit Credit Debit Debit Debit Credit Credit Credit Debit Debit Debit Credit Credit Credit C' red it credit Debit Debit Credit Credit Credit Debit Debit Credit Credit Credit