Item$14$

Time Remaining $2$ hours $44$ minutes$02$:$44$:$00$

Item $14$

Time Remaining $2$ hours $44$ minutes$02$:$44$:$00$

Majka Company was started on January $1,$ Year $1.$ During Year $1,$ the company experienced the following accounting events: $(1)$ Issued $51,300$ worth of common stock $(2)$ earned cash revenues of $$30,400,(3)$ paid cash expenses of $$13,800,$ and $(4)$ paid a $$2,100$ 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.