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Using the information below, fill out the Statement of Cash Flows Table. Required information (The following information applies to the questions displayed below.] Gabi Gram
Using the information below, fill out the Statement of Cash Flows Table.
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. completed the following transactions during its first month of operations. May 1 G. Gram invested $40,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,200 cash for May's rent. 3 The company purchased $1,890 of equipment on credit. 5 The company paid $750 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 $750 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 $3,200 of consulting services on credit. 25 The company received $3,200 cash payment for the services provided on May 22. 26 The company paid $1,890 cash for the equipment purchased on May 3. 27 The company purchased $80 of 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 $280 cash for this month's utilities. 31 The company paid $1,400 cash in dividends to the owner (sole shareholder). Date Cash + Accounts Receivable + Equipment Accounts Payable + + Common Stock Dividends + Revenues Expenses Titles for Expenses IS 0 NA lay 1 + $ 0+ $ 0 = $ 0 + $ 40,000 $ 0 $ 0 $ 40.000 (2,200) 1 + 0 + 0 = 0 + 0 0 + 0 3 0 + 0 + 1,890 1,890 + 0 + 0 0 0 0 0 0 0 2,200 Rent NA 750Cleaning 0 NA 5 (750) + 0 + 0 = 0 + 0+ olololo 8 + 0+ 0 = 0 + 0 0 + 5,400 5,400 0 12 + 2,500 + 0 0 + 0 0 + 2,500 NA 15 + 0 + 0 = 0 + 0 0 + 0 750 Salary (750) 2,500 20 + 0 = 0 + 0 0 0 + 0 0 NA OOOOOOOOOOOOOOOO 22 0 (2,500) + 3,200 + (3,200) + + 0 = 0 OOOOOOOOOoooooo + 0 + 3,200 0 0 0 25 + 0 + 0+ 0 0 = 0 = 26 + 0+ + 0 0 + 0 (1,890) 80 27 + 0 + = + 0 + 0 80 0 = 3,200 (1,890) 0 ( (750) + (300) (280) + ( (1,400) + 0 0 28 O NA 0 O NA 0 NA NA 750 Salary 300 Telephone 280 Utilities 0 NA 0 + 0 0+ 0+ 30 + 0 0 + 0 0 0 30 0 + 0 = 0 + 0 0+ 0 31 0 + 0 = 0 (1,400) + 0 o $ 0 + $ 1,970 $ 42.780 80 + $ 40,000 $ (1,400) $ 11,100 $ 5,030 Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities $ 0 Cash flows from investing activities O Cash flows from financing activities 0 $ 0 0 Cash balance, May 1 Cash balance, May 31 $ 0Step by Step Solution
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