Question

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 $43,500 cash in the company. 1 The company rented a furnished office and paid $2,300 cash for May's rent. 3 The company purchased $5,020 of office equipment on credit. 5 The company paid $730 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,9ΘΘ cash. 12 The company provided $2,5ΘΘ of consulting services for a client on credit. 15 The company paid $780 cash for an assistant's salary for the first half of this month. 2Θ The company received $2,5ΘΘ cash payment for the services provided on May 12 22 The company provided $3,9ΘΘ of consulting services on credit. 25 The company received $3,9ΘΘ cash payment for the services provided on May 22. 26 The company paid $5, 020 cash for the office equipment purchased on May 3 27 The company purchased $75 of advertising in this month's (May) local paper on credit; cash payment is due June 1 28 The company paid $780 cash for an assistant's salary for the second half of this month. 30 The company paid $400 cash for this month's telephone bill. 30 The company paid $290 cash for this month's utilities. 31 G. Gram withdrew $2,ΘΘΘ cash from the company for personal use.

Answer 1

	Assets			liabilities	Equity
Date	Cash	Accounts	office	Accounts	G.Gram	G.Gram	Revenues	Expenses
		receivable	Equipment	payable	Capital	Withdrawals
1-May	43,500				43,500
1-May	-2,300							-2,300
3-May			5,020	5,020
5-May	-730							-730
8-May	5,900						5,900
12-May		2,500					2,500
15-May	-780							-780
20-May	2,500	-2,500
22-May		3,900					3,900
25-May	3,900	-3,900
26-May	-5,020			-5,020
27-May				75				-75
28-May	-780							-780
30-May	-400							-400
30-May	-290							-290
31-May	-2,000					-2,000
	43,500	0	5020	75	43,500	-2000	12300	-5355