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Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following accounting events: (1) Issued 51,000 worth of common
Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following accounting events: (1) Issued 51,000 worth of common stock (2) earned cash revenues of $29,200, (3) paid cash expenses of $13,400, and (4) paid a $1,700 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 A Required B Inc Required B Required B Bal Stmt Stmt of Changes Sheet Prepare a balance sheet dated December 31, Year 1, for Majka Company. MAJKA COMPANY Balance Sheet As of December 31, Year 1 Assets Cash Required A Required B Inc Stmt Required B Stmt of Required B Bal 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 Cash Total assets Liabilities Stockholders' equity Retained earnings Total stockholders' equity Total liabilities and stockholders' equity < Required B Stmt of Changes $ 0 0 $ 0 Required
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