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also need to prepare the statement of cash flows for the month of may Saved Help Soved Gabi Gram started The Gram Co., a new
also need to prepare the statement of cash flows for the month of may
Saved Help Soved Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations May 16. Gran invested $42, see cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,300 cash for May's rent. 3 The company purchased $1,910 of office equipment on credit. 5 The company paid 5730 cash for this month's cleaning services 3 The company provided consulting services for a client and immediately collected $5,40e cash. 12 The company provided $2,700 of consulting services for a client on credit. 15 The company paid $750 cash for an assistant's salary for the first half of this month. ze The company received $2,700 cash payment for the services provided on May 12. 22 The company provided $3,600 of consulting services on credit. 25 The company received 53,500 cash payment for the services provided on May 22 25 The company paid $1,910 cash for the office equipment purchased on May 3. 27 The company purchased 53e of office equipment on credit. 28 The company paid 5750 cash for an assistant's salary for the second half of this month 3e The company paid $350 cash for this month's telephone bill. 3e The company paid $29e cash for this month's utilities. 31 The company paid $1,see cash in dividends to the owner (sole shareholder). 2.1. Prepare the income statement for May. 2.2. Prepare the statement of retained earnings for May 2.3. Prepare the balance sheet as of May 31 Step by Step Solution
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