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Financial Accounting, I have solved most of it but my numbers are wrong and I need help. It is a four-part question. Thank You! Gabi

Financial Accounting, I have solved most of it but my numbers are wrong and I need help. It is a four-part question. Thank You!

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Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the followin transactions during its first month of operations. May 1 G. Gram invested $43,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,400 cash for May's rent. 3. The company purchased $1,930 of office equipment on credit. 5 The company paid $740 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,800 cash. 12 The company provided $2,800 of consulting services for a client on credit. 15 The company paid $770 cash for an assistant's salary for the first half of this month. 20 The company received $2,800 cash payment for the services provided on May 12. 22 The company provided $3,300 of consulting services on credit. 25 The company received $3,300 cash payment for the services provided on May 22. 26 The company paid $1,930 cash for the office equipment purchased on May 3. 27 The company purchased $90 of office equipment on credit. 28 The company paid $770 cash for an assistant's salary for the second half of this month. 30 The company paid $300 cash for this month's telephone bill. 30 The company paid $280 cash for this month's utilities. 31 The company paid $1,800 cash in dividends to the owner (sole shareholder). Problem 1-7A Part 2 and 3 2-a. Prepare income statement for May. 2-b. Prepare statement of retained earnings for May. 2-c. Prepare balance sheet for May 31. 3. Prepare statement of cash flows for May. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare income statement for May. THE GRAM CO. Income Statement For Month Ended May 31 Revenues: Consulting services revenue $ 11,600 X $ Expenses Rent expense Salaries expense Telephone expense Cleaning expense Utilities expense 2,600 X 1,520 X 350 X 780 X 280 Total expenses Net income 5,530 6,070 X $ 2-a. Prepare income statement for May. 2-b. Prepare statement of retained earnings for May. 2-c. Prepare balance sheet for May 31.1 3. Prepare statement of cash flows for May. * Answer is not complete. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 2c Required 3 Prepare statement of retained earnings for May. THE GRAM CO. Statement of Retained Earnings For Month Ended May 31 Retained earnings, May 1 $ Add: Net income 0 6,070 X 6,070 (1,700) 4,370 Less: Dividends Retained earnings, May 31 $ 2-a. Prepare income statement for May. 2-b. Prepare statement of retained earnings for May. 2-c. Prepare balance sheet for May 31.1 3. Prepare statement of cash flows for May. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Required 20 Required 3 Prepare Balance Sheet for May 31. Assets $ 85 Cash Office equipment THE GRAM CO. Balance Sheet May 31 Liabilities $ 44,440 X Accounts payable 2,015 X Equity Common stock Retained earnings Total equity $ 46,455 Total liabilities and equity 42,000 X 4,370 46,370 $ 46,455 Total assets Required 2A Required 2B Required 2C Required 3 Prepare statement of cash flows for May. (Cash outflows should be indicated with a minus sign.) THE GRAM CO. Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities Cash received from customers $ Cash paid for rent Cash paid for telephone Cash paid to employees 11,600 (2,600) (350) (1,520) $ 7,130 Cash flows from investing activities Cash paid for equipment (1,930) (1,930) Net cash used by investing activities Cash flows from financing activities Cash investment from shareholder Cash dividend to shareholder 42,000 (1,700) S Net cash provided by financing activities Net increase in cash Cash balance, May 1 Cash balance, May 31 40,300 45,500 0 45,500 S

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