Seved 1 ! Required information Part 1 of 2 [The following information applies to the questions displayed below Milea Inc. experienced the following events in 2018, its first year of operations 14.28 points 1. Received $12.500 cash from the issue of common stock 2 Performed services on account for $45,000. 3. Pald the utility expense of $1,050. 4, Collected $37870 of the accounts receivable. 5. Recorded $9.650 of accrued salarles at the end of the year 6. Paid a $850 cash dividend to the stockholders. elook Hint Required Ask a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings". Enter any decreases to account balances with a minus sign.) MILEA INC. References General Ledger Accounts For the Year Ended December 31, 2018 Liabilities Stockholders' Equity Retained Earnings Assets Accounts Titles for Salaries Payable Common Stock Accounts Receivable Retained Earnings Event Cash 12,500 NA 12,500 45000 Revenue (1050) Utity expense 0 + 45.000 2 ol . 3 (1,050) (37 870)P ol 0 37.870 0+ (9.650) Salanes expense 9.650 C (850) Dividend (850) 12.500 33 450 9.650+ 7130 48.470 Totals Next 3 Milea Inc. experienced the following events in 2018, its first year of operations: 1. Received $12,500 cash from the issue of common stock 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,050. 4, Collected $37870 of the accounts receivable. 5. Recorded $9,650 of accrued salaries at the end of the year 6. Paid a $850 cash dividend to the stockholders. b. Prepare the income 2018 accounting period tatement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare the income statement MILEA INC. Income Statement 2018 For the Year Ended December Revenue S 45,000 Expenses Utilities expense 1,050 Salaries expense 9.650 Total expenses 10.700 Net income S34,300 Req B2> Saved 2 Milea Inc. experienced the following events in 2018, its first year of operations: 1. Recelved $12.500 cash from the issue of common stock 2 Performed services on account for $45,000. 3. Pald the utility expense of $1,050. 4. Collected $37,870 of the accounts recelvable. 5, Recorded $9.650 of accrued salaries at the end of the year 6. Paid a $850 cash dividend to the stockholders Part 2 of 2 14.28 points eBook b. Prepare the income statement, statement of changes in stockholders equity. balance sheet, and statement of cash flows for the 2018 accounting period. Hnt Complete this question by entering your answers in the tabs below. Ask Reg 82 Req 83 Req B4 Reg B1 Pont Prepare the statement of changes in stockholders' equity MILEA INC References Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stocks Ending common stock Beginning retained eamings Endng retained eamings Total stockholders equty Reg 83>
2 catel aie castela (1ai bio,monszerzip mit zhatica.zip championship, 2zp Chapter 2 10me. html Saved 2 b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the 2018 accounting perlod. Part 2 of 2 Complete this question by entering your answers in the tabs below. 14 28 points Req B1 Req B2 Req B3 Reg 84 Prepare the statement of cash flows for the 2018 accounting period. (Amounts to be deducted should be indicated with a minus sign.) eBook MILEA INC Hint Statement of Cash Flows For the Year Ended December 31, 2018 Cash fow from operating activites Ask Print Net cash flow from operating activities Cash flow from investing activibes References Cash flow from financing activites Net cash flow from fnancing activites 0 Net change in cash Ending cash balance Reg B3 Mc Graw
