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Required information [The following information applies to the questions displayed belowj Gabi Gram started The Gram Co., a new business that began operations on May
Required information [The following information applies to the questions displayed belowj 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 $40,500 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 $1,940 of office equipment on credit. 5 The company paid $730 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,400 cash 12 The company provided $2,500 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 $2,500 cash payment for the services provided on May 12. 22 The company provided $4,000 of consulting services on credit 25 The company received $4,000 cash payment for the services provided on May 22. 26 The company paid $1,940 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 $260 cash for this month's utilities 31 The company paid $1,800 cash in dividends to the owner (sole shareholder) 936
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