Question: Ahmed decides to start a business which he names Alpha LLC.
1. on january 1, 2017, he invests $250000 cash in the business.
2. Alpha LLC purchases computer equipment for $15000cash.
3. Alpha LLC purchases computer paper and other supplies for $1800 from ABC supply company computer expected to last several months. ABC aggrees to allow alpha LLC to pay this bill in february.
4. Alpha LLC receives $7500 cash from customers for services it has provided.
5. Alpha LLC receive a bill for $450from the Gulf news for advertising but postpones payment untill a later date.
6. Alpha LLC provides $10500 of services for customers. The company recives cash of $ 8500from customer. and it bills the balance of $2000 on account
7. Alpha LLC pays the following expenses in cash for january: rent $1700, salaries of employee $9000 and utilities $1200.
8. Alpha LLC pays its $450 Gulf news bill in cash.
9. Alpha LLC receives $2000 in cash from customer who had been billed for services in transaction number 6.
10. Ahmed withdraws $4600 in cash from the business for his personal use.
Required: 1. Income statement
2. statement of owners equity
3. Balance sheet