Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completedthe following transactions during its first month of operations.May 1 G. Gram invested $40,000 cash in the company.1 The company rented a furnished office and paid $2,200 cash for May’s rent.3 The company purchased $1,890 of office 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 $5,400cash.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 office equipment purchased on May 3.27 The company purchased $80 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 $280 cash for this month’s utilities.31 G. Gram withdrew $1,400 cash from the company for personal use. Prepare the income statement and the statement of owner’s equity for the month of May, and the balance sheet as of May 31.
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.
1 The company rented a furnished office and paid $2,200 cash for May’s rent.
3 The company purchased $1,890 of office 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 office equipment purchased on May 3.
27 The company purchased $80 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 $280 cash for this month’s utilities.
31 G. Gram withdrew $1,400 cash from the company for personal use. Prepare the income statement and the statement of owner’s equity for the month of May, and the
sheet
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