Carlos Young started an engineering firm called Young Engineering. He began operations in March 2023 and completed seven transactions, including his initial investment of $17,000 cash. After these transactions, the ledger included the following accounts with their normal balances:

Required
Preparation Component:
Prepare a trial balance for the business.

Analysis Component:
Analyze the accounts and balances and prepare narratives that describe each of the seven most likely transactions and their amounts.

Transcribed Image Text:

Cash Office Supplies Prepaid Insurance Office Equipment Accounts Payable Carlos Young, Capital Carlos Young, Withdrawals Engineering Revenue Rent Expense $26,660 660 3,200 16,500 16,500 17,000 3,740 24,000 6,740