Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $33,400, (2) paid cash expenses of $14,800, and (3) paid a $3,100 cash dividend to its stockholders. These were the only events that affected the comtpany during Year 1. Required a. Record the effects of each accounting event under the appropriate general ledger account headings. b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December 31, Year 1, for Majka Company. Complete this question by entering your answers in the tabs below. Required B Inc Required B Stmt Required B Bal Sheet Required A Stmt of Changes Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to account balances with a minus sign.) MAJKA COMPANY Accounting Equation for Year1 +] Stockholders' Equity Assets Liabilities Common Stock Retained Earnings Event Cash +] 1. +] 2. 3. Ending balance Required B Ine Stmt Rerad A

Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $33,400, (2) paid cash expenses of $14,800, and (3) paid a $3,100 cash dividend to its stockholders. These were the only events that affected the comtpany during Year 1. Required a. Record the effects of each accounting event under the appropriate general ledger account headings. b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December 31, Year 1, for Majka Company. Complete this question by entering your answers in the tabs below. Required B Inc Required B Stmt Required B Bal Sheet Required A Stmt of Changes Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to account balances with a minus sign.) MAJKA COMPANY Accounting Equation for Year1 +] Stockholders' Equity Assets Liabilities Common Stock Retained Earnings Event Cash +] 1. +] 2. 3. Ending balance Required B Ine Stmt Rerad A

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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