Carlos Beltran started an engineering firm called Beltran Engineering. He began operations and completed seven transactions in May, which included his initial investment of $17,000 cash. After those seven transactions, the ledger included the following accounts with normal balances.
Cash | $26,660 |
Office supplies | 660 |
Prepaid insurance | 3,200 |
Office equipment | 16,500 |
Accounts payable | 16,500 |
Common Stock | 17,000 |
Dividends | 3,740 |
Engineering fees earned | 24,000 |
Rent expense | 6,740 |
Required
1. Prepare a trial balance for this business as of the end of May.
Analysis Components
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 $26,660 ending Cash balance.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.