Question

Required information Problem 1-7A Analyzing transactions and preparing financial statements LO P1, P2, [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 transactions during its first month of operations. May 1 G. Gram invested $42,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,100 cash for May’s rent. 3 The company purchased $1,929 of office equipment on credit. 5 The company paid $760 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,600 cash. 12 The company provided $2,400 of consulting services for a client on credit. 15 The company paid $790 cash for an assistant's salary for the first half of this month. 20 The company received $2,400 cash payment for the services provided on May 12. 22 The company provided $3,800 of consulting services on credit. 25 The company received $3,800 cash payment for the services provided on May 22. 26 The company paid $1,920 cash for the office equipment purchased on May 3. 27 The company purchased $75 of office equipment on credit. 28 The company paid $790 cash for an assistant's salary for the second half of this month 30 The company paid $350 cash for this month's telephone bill. 30 The company paid $280 cash for this month's utilities. 31 The company paid $1,800 cash in dividends to the owner (sole shareholder). lem 1-7A Part 2 and 3 . Prey 9 of 9 Next

prepare a cash flow statement

I want to compare my answered to my cash flow statement very beginning chapters of accounting a cash flow statement

Answer 1

	Cash Flow Statement
	Cash flow from operating activities
	Cash inflows
	Cash received from services					$   5,600.00
	Collection from customers					$   6,200.00
	Cash outflows
	Cash paid for rent					$ (2,100.00)
	Cash paid for cleaning services					$     (760.00)
	Cash paid for salary					$ (1,580.00)
	Cash paid for telephone bill					$     (350.00)
	Cash paid for utility expenses					$     (280.00)
	Net cash generated from operating activities					(A)	$   6,730.00
	Cash flow from investing activities
	Office equipment purchased					$ (1,920.00)
	Net cash generated from investing activities					(B)	$ (1,920.00)
	Cash flow from financing activities
	Issued Common Stock					$ 42,000.00
	Dividend paid					$ (1,800.00)
	Net cash generated from financing activities					(C)	$ 40,200.00
	Net increase in cash and cash equivalents					(A+B+C)	$ 45,010.00
Add:	Beginning cash balance						$               -
	Ending cash balance						$ 45,010.00