Question
Exercise 1-15 Preparing an income statement and a balance sheet LO 1-7 Mijka Company was started on January 1, 2018. During 2018, the company experienced
Exercise 1-15 Preparing an income statement and a balance sheet LO 1-7
Mijka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events: (1) earned cash revenues of $32,200, (2) paid cash expenses of $14,400, and (3) paid a $2,700 cash dividend to its stockholders. These were the only events that affected the company during 2018.
Required
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Record the effects of each accounting event under the appropriate general ledger account headings.
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Prepare an income statement, statement of changes in stockholders equity, and a balance sheet dated December 31, 2018, for Mijka Company.
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