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Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues
Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $31,900; (2) paid cash expenses of $14,300; and (3) paid a $2,600 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 Mijka Company. Complete this question by entering your answers in the tabs below. Req B. Income Req A Statement Req B Statement of Changes Req B Balance Sheet Record the effects of each accounting event under the appropriate general ledger account headings. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. MIJKA COMPANY Complete this question by entering your answers in the tabs below. Req B Income Req B Req A Req B Balance Statement Statement of Changes Sheet Record the effects of each accounting event under the appropriate general ledger account headings. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. MIJKA COMPANY Accounting Equation for Year1 Assets Event Cash 100,000 Stock issuance 1. Cash revenues 2. Paid expenses 3. Paid dividend Ending balance Req A Liabilities + + + + Stockholders' Equity Common + Stock Retained Earnings 100,000 + + Req B Income Statement > Complete this question by entering your answers in the tabs below. Req A Req B Income Statement Req B Statement of Changes Req B Balance Sheet Prepare an income statement dated December 31, Year 1, for Mijka Company. MIJKA COMPANY Income Statement For the Year Ended December 31, Year 1 < Req A Req B Statement of Changes Complete this question by entering your answers in the tabs below. Req B Income Req A Statement Req B Statement of Changes Req B Balance Sheet Prepare a statement of changes in stockholders' equity dated December 31, Year 1, for Mijka Company. MIJKA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Plus: Common stock issued Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity Complete this question by entering your answers in the tabs below. Req B Income Req A Statement Req B Statement of Changes Req B Balance Sheet Prepare a balance sheet dated December 31, Year 1, for Mijka Company. Assets MIJKA COMPANY Balance Sheet As of December 31, Year 1 Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity
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