Saved uilt Problems Required information [The following information applies to the questions displayed below] Gabi Gram started The Gram Co., a new business that began operations on May 1, The Gram Co. com transactions during its first month of operations. May 1 6. Gran invested $42,500 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 $1,940 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 $5,200 cash 12 The company provided $2,900 of consulting services for a client on credit. 15 The company paid $750 cash for an assistant's salary for the first half of this month. 20 The company received $2,900 cash payment for the services provided on May 12. 22 The company provided $3,700 of consulting services on credit. 25 The company received $3,700 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 $85 of office equipment on credit. 28 The company paid $750 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 $290 cash for this month's utilities. 31 The company paid $1,700 cash in dividends to the owner (sole shareholder). ho Required: 1. Enter the amount of each transaction on individual items of the accounting equation. Do not 1. Enter the amount of each transaction on Individual items of the accounting equation. Do not determine new account balances after each transaction. (Enter the transactions in the glven order. Enter reductions to account balances with a minus sign.) Assets Accounts Receivable Date Equity Cash Office Equipment Liabilities Accounts Payable + Dividends Revenues May Common Stock 42.500 1 + Expenses . 42.500 (2.400) + 1 + + + + 1.040 o 1.040 2.400 3 5 8 + + 5.200 + 730 2.000 5.200 2.000 + 15 20 22 (730) 2.000 + 730 X (2.000) 3.700 (3.700) 3.100- (1.940) - 3.700 . . (1.040 851 - 27 28 30 30 730) X- (300) 730 (1.100) 300 200 1945 85 $ 42.500 1.700+ 1.700 3 S 11.300 5.180 The following Information applies to the questions displayed below.] Sabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. con ransactions during its first month of operations. ay 1 G. Gram invested $42,500 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 $1,948 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 $5,200 cash 12 The company provided $2,989 of consulting services for a client on credit. 15 The company paid $750 cash for an assistant's salary for the first half of this month. ze The company received $2,900 cash payment for the services provided on May 12. 22 The company provided $3,789 of consulting services on credit. 25 The company received $3,788 cash payment for the services provided on May 22. 26 The company paid $1,948 cash for the office equipment purchased on May 3. 27. The company purchased $85 of office equipment on credit. 28 The company paid $750 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. Be the company paid $290 cash for this month's utilities. 31 The company paid $1, Tev cash in dividends to the owner (sole shareholder)
