Chapter 1 Homework 1 Required information Saved Help Save & Exit Submit Check my work B points Print References [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 16. Gran invested $42,000 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 $1,940 of office equipment on credit. 5 The company paid $750 cash for this month's cleaning services. 8 The company provided consulting services for a client and inmediately collected $5,800 cash. 12 The company provided $2,900 of consulting services for a client on credit. 15 The company paid $750 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 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 $1,940 cash for the office equipment purchased on May 3.- 27 The company purchased $90 of office equipment on credit. 28 The company paid $750 cash for an assistant's salary for the second half of this month.) 38 The company paid $350 cash for this month's telephone bill. 30 The company paid $250 cash for this month's utilities. 31 The company paid $1,900 cash in dividends to the owner (sole shareholder). Required: Enter the amount of each transaction on individual items of the accounting equation. Do not determine new account balances after each transaction. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" if he transaction does not include an expense.) Assets Liabilities Accounts Common Equity Account Titles Reysouss Expenses Fant 8 points Check my work 1 Required: 1. Enter the amount of each transaction on individual items of the accounting equation. Do not determine new account balances after each transaction. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" If the transaction does not include an expense.) Assets Accounts Liabilities Equity Date Cash eBook May 1 $42,000+ Office Receivable Equipment Accounts Payable Common Stock Dividends Revenues Account Titte for Expensas 42,000 $42.000 1 2,000- Pet 2,000 3 . + 1,940 1,940 - 5) 750. 750 References 8 5,800+ . 5.800- 12 2.900- + 15 750+ . 2.900- 750 20 2.900. 22 25 3,800. 2,900 - 3,800+ 3,800 3,800 + 26 1,940 + 27 . + 90 1.940 90- . . + 750 28 750+ . + 350 30 350+ + = 250 . 30 250 1.900 . 31 1,900 $63,190. $ 13,400. $ 2,030 $ 3.970 $ 42.000 $ 1,900 $12.500 $ 46.850