Gabi Gram started The Gram Co., a new business that began operations on May 1. The GramCo. completed the following transactions during its first month of operations.G. Gram invested $44,500 cash in the company.1 The company rented arent.3 The company purchased $5,110 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 andimmediately collected $6,000 cash.12 The company provided $2,90e of consulting services for a client oncredit.Mayfurnished office and paid $2,200 cash for May's15 The company paid $730 cash for an assistant's salary for the firsthalf of this month.20 The company received $2,900 cash payment for the services providedMay 12.on22 The company provided $3,200 of consulting serMices25 The company rsceived $3,200 cash payment for the services providedon May 22.26 The company paid $5,110 cash for the office equipment purchased onMay 327 The company purchased $80 of advertising in this monthspaper on credit cash paymentis due June28 The company paid $730 cashfor anassistant shalf of this month.30 The company paid $400 cash for this month's telephone bill.30 The company paid $27e cash for this month's utilities.31 G. Gram withdrew $1,900 cashfrom the company for personal use.on credit.(May) localsalary for the second

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Asked Sep 4, 2019
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Here's the chart for statement of cash flow 

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.
G. Gram invested $44,500 cash in the company.
1 The company rented a
rent.
3 The company purchased $5,110 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 $6,000 cash.
12 The company provided $2,90e of consulting services for a client on
credit.
May
furnished office and paid $2,200 cash for May's
15 The company paid $730 cash for an assistant's salary for the first
half of this month.
20 The company received $2,900 cash payment for the services provided
May 12.
on
22 The company provided $3,200 of consulting serMices
25 The company rsceived $3,200 cash payment for the services provided
on May 22.
26 The company paid $5,110 cash for the office equipment purchased on
May 3
27 The company purchased $80 of advertising in this months
paper on credit cash paymentis due June
28 The company paid $730 cashfor anassistant s
half of this month.
30 The company paid $400 cash for this month's telephone bill.
30 The company paid $27e cash for this month's utilities.
31 G. Gram withdrew $1,900 cashfrom the company for personal use.
on credit.
(May) local
salary for the second
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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. G. Gram invested $44,500 cash in the company. 1 The company rented a rent. 3 The company purchased $5,110 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 $6,000 cash. 12 The company provided $2,90e of consulting services for a client on credit. May furnished office and paid $2,200 cash for May's 15 The company paid $730 cash for an assistant's salary for the first half of this month. 20 The company received $2,900 cash payment for the services provided May 12. on 22 The company provided $3,200 of consulting serMices 25 The company rsceived $3,200 cash payment for the services provided on May 22. 26 The company paid $5,110 cash for the office equipment purchased on May 3 27 The company purchased $80 of advertising in this months paper on credit cash paymentis due June 28 The company paid $730 cashfor anassistant s half of this month. 30 The company paid $400 cash for this month's telephone bill. 30 The company paid $27e cash for this month's utilities. 31 G. Gram withdrew $1,900 cashfrom the company for personal use. on credit. (May) local salary for the second <Prev 2 of 2 Next ere to search e 7:35 PM 9/4/2019

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Expert Answer

Step 1

Step 1:

Prepare income statement.

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Income statement Amount inAmount in Particulars Consulting revenue Less: Rent expense Cleaning service salaries expense Advertising expense Telephone expense Utilities expense Net Income 12,100 2,200 760 1,460 80 400 5170 270 6.930

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Step 2

Prepare statement of cash flow for the m...

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Statement of cash flow For the month ended May 31 Amount inS Amount in S Particulars Cash flow from operating activities: Cash received from customer Less: Cash paid for rent Cash paid for cleaning service Cash paid for telephone Cash paid for utilities Cash paid for employees |Net cash flow of operating activities 12,100 2,200 760 400 270 5,090 7,010 1,460 Cash fow from investing activities: Purchase of office equipment Net cash flow of investing activities 5,110 -5,110 Cash flow from financing activities: Investment |Less: Withdrawal Net cash flow of financing activities |Net increase in cash Cash balance on May 1 Cash balance on May 31 44,500 1,900 42,600 44,500 0 44,500

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