Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events 1 earned cash revenues of $31,900 2 paid cash expenses of $14,300 3 paid a $2,600 cash dividend to its stockholders These were the only events that affected the company 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 Mijka Company
Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events 1 earned cash revenues of $31,900 2 paid cash expenses of $14,300 3 paid a $2,600 cash dividend to its stockholders These were the only events that affected the company 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 Mijka Company
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 1AFE
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