Answer is not complete. Date Cash Assets Accounts Receivable May 1 43,000 Liabilities Equity Equipment Accounts Payable Common Stock Dividends Revenues Expenses Account Titles for Expenses +$43,000 May 1 (2,200) + + (2,200) ( May 3 + + 1,950 1,950 + + May 5 (750) + + = + + (750) May 8 5,500 + = + + - 5,500 May 2,500 + + 2,500 12 May (750) + (750) S 15 May 2,500 (2,500) = + + 20 May 3,200 = + 3,200 22 May 3,200 (3,200) = + 25 May 26 (1,950) + = (1,950) ( + May 85 85 + 27 May (750) + 28 May (350) + = + + 30 May 30 (270) + = + (750) (350) (270) May 31 (1,500) + (1,500) + + $ 0 + $ 2,035 = $ 85 + $ 43,000 $ (1,500) + $ 11,200 $ (5,070) 45,680 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 in exchange for its common stock. May 1 The company rented a furnished office and paid $2,200 cash for May's rent. May 3 The company purchased $1,950 of equipment on credit. May 5 The company paid $750 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,500 cash. May 12 The company provided $2,500 of consulting services for a client on credit. May 15 The company paid $750 cash for an assistant's salary for the first half of this month. May 20 The company received $2,500 cash payment for the services provided on May 12. May 22 The company provided $3,200 of consulting services on credit. May 25 The company received $3,200 cash payment for the services provided on May 22. May 26 The company paid $1,950 cash for the equipment purchased on May 3. May 27 The company purchased $85 of equipment on credit. May 28 The company paid $750 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this month's telephone bill. May 30 The company paid $270 cash for this month's utilities. May 31 The company paid $1,500 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on individual items of the accounting equation.
Answer is not complete. Date Cash Assets Accounts Receivable May 1 43,000 Liabilities Equity Equipment Accounts Payable Common Stock Dividends Revenues Expenses Account Titles for Expenses +$43,000 May 1 (2,200) + + (2,200) ( May 3 + + 1,950 1,950 + + May 5 (750) + + = + + (750) May 8 5,500 + = + + - 5,500 May 2,500 + + 2,500 12 May (750) + (750) S 15 May 2,500 (2,500) = + + 20 May 3,200 = + 3,200 22 May 3,200 (3,200) = + 25 May 26 (1,950) + = (1,950) ( + May 85 85 + 27 May (750) + 28 May (350) + = + + 30 May 30 (270) + = + (750) (350) (270) May 31 (1,500) + (1,500) + + $ 0 + $ 2,035 = $ 85 + $ 43,000 $ (1,500) + $ 11,200 $ (5,070) 45,680 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 in exchange for its common stock. May 1 The company rented a furnished office and paid $2,200 cash for May's rent. May 3 The company purchased $1,950 of equipment on credit. May 5 The company paid $750 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,500 cash. May 12 The company provided $2,500 of consulting services for a client on credit. May 15 The company paid $750 cash for an assistant's salary for the first half of this month. May 20 The company received $2,500 cash payment for the services provided on May 12. May 22 The company provided $3,200 of consulting services on credit. May 25 The company received $3,200 cash payment for the services provided on May 22. May 26 The company paid $1,950 cash for the equipment purchased on May 3. May 27 The company purchased $85 of equipment on credit. May 28 The company paid $750 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this month's telephone bill. May 30 The company paid $270 cash for this month's utilities. May 31 The company paid $1,500 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on individual items of the accounting equation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
not use ai please
Transcribed Image Text:Answer is not complete.
Date
Cash
Assets
Accounts
Receivable
May 1
43,000
Liabilities
Equity
Equipment
Accounts
Payable
Common
Stock
Dividends
Revenues
Expenses
Account
Titles for
Expenses
+$43,000
May 1
(2,200)
+
+
(2,200) (
May 3
+
+
1,950
1,950
+
+
May 5
(750)
+
+
=
+
+
(750)
May 8
5,500
+
=
+
+
-
5,500
May
2,500
+
+
2,500
12
May
(750)
+
(750)
S
15
May
2,500
(2,500)
=
+
+
20
May
3,200
=
+
3,200
22
May
3,200
(3,200)
=
+
25
May
26
(1,950)
+
=
(1,950) (
+
May
85
85
+
27
May
(750)
+
28
May
(350)
+
=
+
+
30
May
30
(270)
+
=
+
(750)
(350)
(270)
May
31
(1,500)
+
(1,500)
+
+
$
0
+
$
2,035
=
$
85
+
$ 43,000
$ (1,500)
+
$
11,200
$ (5,070)
45,680
Transcribed Image Text: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 in exchange for its common stock.
May 1 The company rented a furnished office and paid $2,200 cash for May's rent.
May 3 The company purchased $1,950 of equipment on credit.
May 5 The company paid $750 cash for this month's cleaning services.
May 8 The company provided consulting services for a client and immediately collected $5,500 cash.
May 12 The company provided $2,500 of consulting services for a client on credit.
May 15 The company paid $750 cash for an assistant's salary for the first half of this month.
May 20 The company received $2,500 cash payment for the services provided on May 12.
May 22 The company provided $3,200 of consulting services on credit.
May 25 The company received $3,200 cash payment for the services provided on May 22.
May 26 The company paid $1,950 cash for the equipment purchased on May 3.
May 27 The company purchased $85 of equipment on credit.
May 28 The company paid $750 cash for an assistant's salary for the second half of this month.
May 30 The company paid $350 cash for this month's telephone bill.
May 30 The company paid $270 cash for this month's utilities.
May 31 The company paid $1,500 cash in dividends to the owner (sole shareholder).
Required:
1. Enter the amount of each transaction on individual items of the accounting equation.
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