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Roshaun Gould started a Web consulting firm called Gould Solutions. He began operations and completed seven transactions in April that resulted in the following accounts, which all have normal balances.
Cash . . . . . . . . . . . . . . . . . . . . . . . $19,982Office supplies . . . . . . . . . . . . . . . . 760Prepaid rent . . . . . . . . . . . . . . . . . 1,800Office equipment . . . . . . . . . . . . . 12,250Accounts payable . . . . . . . . . . . . . 12,250R. Gould, Capital . . . . . . . . . . . . . . 15,000R. Gould, Withdrawals . . . . . . . . . . 5,200Consulting fees earned . . . . . . . . . 20,400Operating expenses . . . . . . . . . . . 7,658Required:1. Prepare a trial balance for this business as of the end of April.Analysis Component2. Analyze the accounts and their balances and prepare a list that describes each of the seven most likely transactions and their amounts.3. Prepare a report of cash received and cash paid showing how the seven transactions in part 2 yield the $19,982 ending Cash balance.
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