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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
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 | 1 | G. Gram invested $44,000 cash in the company in exchange for its common stock. | ||
1 | The company rented a furnished office and paid $2,200 cash for Mays rent. | |||
3 | The company purchased $1,880 of office equipment on credit. | |||
5 | The company paid $790 cash for this months cleaning services. | |||
8 | The company provided consulting services for a client and immediately collected $5,600 cash. | |||
12 | The company provided $2,800 of consulting services for a client on credit. | |||
15 | The company paid $800 cash for an assistants 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 $3,100 of consulting services on credit. | |||
25 | The company received $3,100 cash payment for the services provided on May 22. | |||
26 | The company paid $1,880 cash for the office equipment purchased on May 3. | |||
27 | The company purchased $90 of office equipment on credit. | |||
28 | The company paid $800 cash for an assistants salary for the second half of this month. | |||
30 | The company paid $350 cash for this months telephone bill. | |||
30 | The company paid $270 cash for this months utilities. | |||
31 | The company paid $1,600 cash in dividends to the owner (sole shareholder). |
Complete this question by entering your answers in the tabs below. Statement of Retained Earnings Balance Shest Statement of Cash Flows Income Statement Prepare the statement of cash flows for the month of 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 0 Cash flows from investing activities 0 Cash flows from financing activities 0 0 Cash balance, May 1 0 Cash balance, May 31 0 Balance Sheet Statement of Cash Flows >
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