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I'm having a tough time answering this Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company
I'm having a tough time answering this
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. Gram invested $43,000 cash in the company. |
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May 1 | The company rented a furnished office and paid $2,500 cash for Mays rent. |
May 3 | The company purchased $1,910 of equipment on credit. |
May 5 | The company paid $780 cash for this months cleaning services. |
May 8 | The company provided consulting services for a client and immediately collected $5,700 cash. |
May 12 | The company provided $3,000 of consulting services for a client on credit. |
May 15 | The company paid $720 cash for an assistants salary for the first half of this month. |
May 20 | The company received $3,000 cash payment for the services provided on May 12. |
May 22 | The company provided $3,900 of consulting services on credit. |
May 25 | The company received $3,900 cash payment for the services provided on May 22. |
May 26 | The company paid $1,910 cash for the equipment purchased on May 3. |
May 27 | The company purchased $75 of equipment on credit. |
May 28 | The company paid $720 cash for an assistants salary for the second half of this month. |
May 30 | The company paid $350 cash for this months telephone bill. |
May 30 | The company paid $280 cash for this months utilities. |
May 31 | G. Gram withdrew $2,000 cash from the company for personal use. |
2-a. Prepare the income statement for May. 2-b. Prepare the statement of owner's equity for May. 2-c. Prepare the balance sheet for May 31. 3. Prepare the statement of cash flows for May.
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