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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 $43,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,500 cash for May's rent. 3 The company purchased $1,890 of office equipment on credit. 5 The company paid $740 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 $2,600 of consulting services for a client on credit. 15 The company paid $770 cash for an assistant's salary for the first half of this month. 20 The company received $2,600 cash payment for the services provided on May 12. 22 The company provided $3,500 of consulting services on credit. 25 The company received $3,500 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 $75 of office equipment on credit. 28 The company paid $770 cash for an assistant's salary for the second half of this month. JO The company paid $400 cash for this month's telephone bill. 30 The company paid $260 cash for this month's utilities. 31 The company paid $1,900 cash in dividends to the owner (bole shareholder). Problem 1-7A Part 1 Required: 4 China and Anna Hathalanan Saved Help Sav Required information CALITUCHDOLLUIT. IT WE HOLLUVIISTMEYVE VIUEN CHER RUULUVIIS OLLUD Woronice WTB Hary. JIELEWA the transaction does not include an expense.) Equity Assets Accounts Recelvabio + Date Liabilities Accounts Payable Cash Office Equipment Common Stock Dividends + Revenues Expenses Account Titles for Expenses May 1 TII +++++++ 22 . 26 27 28 30 + + 11 Doll

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