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
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 contpany 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
Required B Inc
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.)
nces
MAJKA COMPANY
Accounting Equation for Year1
Stockholders' Equity
Liabilities
+
Assets
Common
Stock
Retained
Earnings
+
Event
+
Cash
+
+
1.
%3D
2.
3.
+
Ending balance
Required B Inc Stmt >
Reguad A
3 of 8
Next>
( Prev
Transcribed Image Text:Check my work 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 contpany 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 Required B Inc 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.) nces MAJKA COMPANY Accounting Equation for Year1 Stockholders' Equity Liabilities + Assets Common Stock Retained Earnings + Event + Cash + + 1. %3D 2. 3. + Ending balance Required B Inc Stmt > Reguad A 3 of 8 Next> ( Prev
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