Criteria Accuracy Complete all elements of the exam accurately. This criterion i

Question

                          Criteria
Accuracy
Complete all elements of the exam accurately.

This criterion is linked to a Learning OutcomeOrganization and Professionalism
All problems are organized using appropriate, professional accounting formats

This criterion is linked to a Learning OutcomeDetail
All Problems attempted with work shown as necessary; no spelling or grammatical errors; all questions answered using terms that the question is asking for

This criterion is linked to a Learning OutcomePersonal Outcome Statement
Uses proper grammar/spelling and states what you have learned within this section

17331679e7acf. Problem 2-6B Analyzing account balances and 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. 20 000 750 1,800 12,250 12.250 15.000 5,200 20,400 7,650 C1 C3 A1 P2 Office supplies Prepaid rent oice equipment Accoutts payable R Gould Captal R Gould, Withdrawals Consuilting fees earned Required Check 1 Trii, barco-toto. $-17 650 1. Prepare a trial halance for this business as of the end of April. 2. The folowi ing seven transactions prodaced the account balances shown above Ending cash a. Goulkd invested $15,000 cash in the business, b. Paid S1,800 cash for monthly rent expense for April c. Paid $7,650 cash for miscellancous expenses d. Purchased office supplies for $750 cash. e. Purchased $12.250 of office equipment on credit with accounts payable) t. Received $20.400 cash for consulting services provided in April ba ance, $20.000 g. Gould withdrew $5,200 cash fot personal use Prepare a Cash T-acount, enter the cash effects (if any of each transaction, and compute the ending Cash balance (code each entry in the T-account with one of the transuction codes a th

Explanation / Answer

1)

GOULD SOLUTIONS

TRIAL BALANCE

FOR THE PERIOD ENDED APRIL

2)

GOULD SOLUTIONS

TRIAL BALANCE

FOR THE PERIOD ENDED APRIL

Debit credit cash 20000 Office supplies 750 Prepaid Rent 1800 Office equipment 12250 Accounts payable 12250 R Gould capital 15000 R Gould withdrawls 5200 consulting fees earned 20400 Miscellaneous expense 7650 Total 47650 47650

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.