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ent Saved Required information [The following information applies to the questions displayed below.] Gabi Gram started The Gram Company, a new business that began operations
ent Saved Required information [The following information applies to the questions displayed below.] Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company completed the following transactions during its first month of operations. May 1 G. Gran invested $41,000 cash in the company in exchange for its common stock. May 1 The company rented a furnished office and paid $2,100 cash for May's rent. May 3 The company purchased $1,880 of equipment on credit. May 5 The company paid $740 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,200 cash. May 12 The company provided $2,500 of consulting services for a client on credit. May 15 The company paid $800 cash for an assistant's salary for the first half of this month. May 20 The company received $2,500 cash payment for the services provided on May 12. May 22 The company provided $3,300 of consulting services on credit. May 25 May 26 The company received $3,300 cash payment for the services provided on May 22. The company paid $1,880 cash for the equipment purchased on May 3. May 27 The company purchased $80 of equipment on credit. May 28 The company paid $800 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this month's telephone bill. May 30 The company paid $250 cash for this month's utilities. May 31 The company paid $1,500 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on Individual items of the accounting equation. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" for account titles if the transaction does not include an expense.) Assets Accounts Date Cash Receivable Equipment Liabilities Accounts Payable Equity + Common Stock Dividends Revenues Expenses Account Titles for Expenses Assets Liabilities + Equity Accounts Date Cash Equipment Receivable Accounts Payable + Common Stock Dividends + May 1 $41,000+ + May 1 May 3 May 5 May 8 May 12 May 15 + Revenues Account Titles Expenses for Expenses NA Rent NA Cleaning NA NA Salary NA NA NA NA NA Salary May 201 May 22 May 25 May 201 May 27 May 28 May 30 May 301 + May 311 NA $41,000+ $ 2,100+ $ 0 0 $ $ 0 . $ 0- $ 0
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