Help me with the statement of cash flows.
1) | |||
THE GRAM CO. | |||
Income Statement | |||
For Month Ended May 31 | |||
Revenues: | $ 11,100.00 | ||
Consulting services revenue | |||
Expenses | $ 300.00 | ||
Telephone expense | $ 750.00 | ||
Cleaning expense | $ 280.00 | ||
Utilities expense | $ 80.00 | ||
Advertising expense | $ 2,200.00 | ||
Rent expense | $ 1,500.00 | ||
Salaries expense | $ 5,110.00 | ||
Total expenses | |||
Net income | $ 5,990.00 | ||
2) | |||
THE GRAM CO. | |||
Statement of Owner's Equity | |||
For the Month Ended May 31 | |||
H. Graham, Capital, May 1 | |||
Add: Investment by Owner | $ 40,000.00 | ||
Net Income | $ 5,990.00 | ||
$ 45,990.00 | |||
Less: Cash Dividend paid | $ 1,400.00 | ||
H. Graham, Capital, May 31 | $ 44,590.00 | ||
3) | |||
THE GRAM CO. | |||
Balance Sheet | |||
Assets | Liabilities | ||
Cash | 42780 | Accounts Payable | 80 |
Office Equipment | 1890 | Owner's Equity | |
H. Graham, Capital, May 31 | $ 44,590.00 | ||
Total Assets | $ 44,670.00 | Total liabilities and equity | $ 44,670.00 |
THE GRAM CO. | |||
Statement of Cash Flows | |||
For Month Ended May 31 | |||
Cash flows from operating activities | |||
Cash received from customers | $ 11,100.00 | ||
Cash Paid for rent | $ -2,200.00 | ||
Cash Paid for cleaning | $ -750.00 | ||
Cash Paid for telephone | $ -300.00 | ||
Cash Paid for utilities | $ -280.00 | ||
Cash Paid to employees | $ -1,500.00 | ||
Net cash provided by operating activities | $ 6,070.00 | ||
Cash flows from investing activities | |||
Purchase of Equiment | $ -1,890.00 | ||
Net cash used by investing activities | $ -1,890.00 | ||
Cash flows from financing activities | |||
Investment by Owner | $ 40,000.00 | ||
Cash Dividend | $ -1,400.00 | ||
Net cash provided by financing activities | $ 38,600.00 | ||
Net Increase in Cash | $ 42,780.00 | ||
Cash balance, May 1 | $ - | ||
Cash balance, May 31 | $ 42,780.00 | ||
Help me with the statement of cash flows. Ch1 Homework Assignment Help Save & Exit Submit...
What am I doing wrong? It will not balance. HW-CH 1 Saved 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. comple transactions during its first month of operations. May 1 G. Gram invested $40,000 cash in the company in exchange for its comnon stack. 1 The company rented...
My Path Home Chapter 01 Homework YouTube pter 01 Homework Help Save & Exit Submit Check my work Required information The following information applies to the questions displayed below.] 1 of 2 Gabl 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 operations. Ook May 1 G. Gram invested $40,000 cash in the company in exchange for its conmon stock. 1 The company rented...
Required information Problem 1-7A Analyzing transactions and preparing financial statements LO C4, 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 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...
Gabl 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 16. 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 office equipment on credit. 5 The company paid $750 cash for this month's cleaning services. 8 The...
Molag pak 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. 1 G. Gram invested $40,000 cash in the company in exchange for its common atock. 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....
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 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....
problem 1-7a financial accounting fundamentals this problem tells me that the answer is not complete. im clueless as to what other information i need to put in the statement. please help ? W Yahoo Bing Google Wikipedia Facebook Twitter Linkedin The Weather Chan... Yelp TripAdvisor Assignment Saved Help Save & Exit Check my 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....
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 10. 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 office equipment on credit. 5 The...
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 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...
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. May1G. Gram invested $45,000 cash in the company.1The company rented a furnished office and paid $2,100 cash for May’s rent.3The company purchased $5,220 of office equipment on credit.5The company paid $760 cash for this month’s cleaning services.8The company provided consulting services for a client and immediately collected $5,300 cash.12The company provided $3,000 of...