Example 2

1. On 1/1/2019 Ahmed started an accounting consultancy business by a 90,000 AED cash capital.

22. Purchased furniture by 12,000 from Khalid stores on account.

3. 3. Purchased car at 32,000 cash

4. 4. Purchased stationary by 4500 AED cash.

5. 5. Purchased office equipment by 11000 from North Stores on account.

6. 6. Withdrew 18,000 AED from his business for personal use

7. Provided consultations to his customer Ahmed and received 30,000 cash received half of it and the remaining will be received later.

8. 8. Paid the amount due to North Stores.

9. 9. Paid the utility bill (electricity & water) of 2500 AED.

10. Received due amount from his customer Ahmed.

11. Paid his office monthly rent of 5500 AED.

12. Paid the employee salary 6000 AED cash

Required :

Show the Income Statement, Statement of Owner`s Equity and Balance Sheet