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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
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 $29,500, (2) paid cash expenses of $13,500, and (3) paid a $1,800 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 Stmt of Required B Bal Stmt 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 0 Ending retained earnings Total stockholders' equity $ 0
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