Exercise 1-15A Preparing an income statement and a balance sheet LO 1-7

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 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 Majka Company.

Complete this question by entering your answers in the tabs below. Required B Inc Required B Required B Bal Required A Stmt Stmt of Changes Sheet Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases account balances with a minus sign.) MAJKA COMPANY Accounting Equation for Year1 Liabilities Assets + Event Stockholders' Equity Common Retained Stock Earnings Cash + + 1. + + + + 2. 3. + + Ending balance 0 0 + 0 + 0 Complete this question by entering your answers in the tabs below. Required B Incl Required B Required A Required B Bal Stmt Stmt of Sheet Changes Prepare an income statement dated December 31, Year 1, for Majka Company. MAJKA COMPANY Income Statement For the Year Ended December 31, Year 1 $ 0 Required B Inc Required B Required B Bal Required A Stmt Stmt of Sheet Changes Prepare a statement of changes in stockholders' equity dated December 31, Year 1, for Majka Company. MAJKA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock $ 0 Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity $ 0 Required B Inc Required B Required B Bal Required A Stmt Stmt of Sheet Changes Prepare a balance sheet dated December 31, Year 1, for Majka Company. MAJKA COMPANY Balance Sheet As of December 31, Year 1 Assets $ 0 Total assets Liabilities Stockholders' equity 15,500 Total stockholders' equity Total liabilities and stockholders' equity 15,500 15,500 $