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On March 1, 2021, Fatma Ali started Gem Consulting Company. Following were the account balances of Gem Consulting Company on March 31st, 2021. AED AED
On March 1, 2021, Fatma Ali started Gem Consulting Company. Following were the account balances of Gem Consulting Company on March 31st, 2021. AED AED Cash 20,500 Equipment 14,000 Office Supplies 1,500 Accounts Receivable 6,500 Consulting Service Fees 10,800 Unearned Revenue 2,600 Accounts Payable 6,500 Miscellaneous Expense 800 Long term loan 11,000 Salaries Expense 2,300 Insurance expense 1,250 Utilities expense 450 1,500 Motor vehicle 15,000 Fatma, drawings Fatma, capital 32,900 Required: Use the information above to prepare in good form following financial statements for Gem Consulting Company for the month ended 31st March 2021. a. Income Statement. b. Owner's Equity Statement. c. Classified Balance Sheet
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