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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 cash dividend to its stockholders. Thesewere the only events that affected the company during Year 1.Requireda. 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, forMijka Company.Complete this question by entering your answers in the tabs below.Reg B IncReq B Stmt ofChangesReg B BalSheetReq AStmtRecord the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases toaccount balances with a minus sign. Not all cells require input.)MIJKA COMPANYAccounting Equation for Year1AssetsLiabilitiesStockholders' Equity%3DEventCommonStockRetainedCashEarnings1.%3D2.%3D3.+Ending balance%3DKReq AReq B Inc Stmt( Prev3. of 6Noxt 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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 cash dividend to its stockholders. Thesewere the only events that affected the company during Year 1.Requireda. Record the effects of each accounting event under the appropriate general ledger account headings.b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December 31, Year 1, forMijka Company.Complete this question by entering your answers in the tabs below.Req B IncStmtReq B Stmt ofChangesReq B BalSheetReq APrepare an income statement dated December 31, Year 1, for Mijka Company.MIJKA COMPANYIncome StatementFor the Year Ended December 31, Year 1RevenueExpenseNet income2$< Req AReq B Stmt of Changes >

Name: Mijka Company was started on January 1, Year 1. During Year 1, the co
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Description: 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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 cash dividend to its stockhold

The accounting equation states that assets equal to sum of liabilities and owners' equity.

Business

Accounting

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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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 headirgs. b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December 31, Year 1, for Mijka Company. Complete this question by entering your answers in the tabs below.

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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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 headirgs. b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December 31, Year 1, for Mijka Company. Complete this question by entering your answers in the tabs below.

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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