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 . . . . . . . . . . . . . . . . . . . . . $46,518

Office supplies . . . . . . . . . . . . . . . . 850

Prepaid rent . . . . . . . . . . . . . . . . . 4,700

Office equipment . . . . . . . . . . . . 11,300

Accounts payable . . . . . . . . . . . . 11,300

Common stock . . . . . . . . . . . . . . 22,500

Dividends . . . . . . . . . . . . . . . . . . . 4,172

Consulting fees earned . . . . . . . . 43,000

Operating expenses . . . . . . . . . . . . 9,260

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 $46,518 ending Cash balance.