The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 5 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Michael 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.
Â
Cash . . . . . . . . . . . . . . . . . . . . . . . $12,485
Office supplies . . . . . . . . . . . . . . . . 560
Prepaid rent . . . . . . . . . . . . . . . . . 1,500
Office equipment . . . . . . . . . . . . . 11,450
Accounts payable . . . . . . . . . . . . . 11,450
M. Gould, Capital . . . . . . . . . . . . . . 10,000
M. Gould, Withdrawals . . . . . . . . . 6,200
Consulting fees earned . . . . . . . . . 16,400
Operating expenses . . . . . . . . . . . 5,655
Required
1. Prepare a trial balance for this business as of the end of April.
Analysis Component
2. 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 $12,485 ending Cash balance.
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll