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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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.

Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter3: Processing Accounting Information
Section: Chapter Questions
Problem 3.11AMCP: Entries Prepared from a Trial Balance and Proof of the Cash Balance Russell Company was incorporated...
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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 of $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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 Stmt of
Changes
Reg B Inc
Req A
Req B Bal
Sheet
Stmt
Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to
account balances with a minus sign. Not all cells require input.)
. .. ... ............r...............u*
MIJKA COMPANY
Accounting Equation for Year1
Assets
Liabilities
Stockholders' Equity
%3D
Event
Common
Retained
Cash
Stock
Earnings
1.
%3D
+
2.
%3D
3.
%3D
Ending balance
%3D
KReq A
Req B Inc Stmt >
Transcribed Image Text:Homework 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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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 Stmt of Changes Reg B Inc Req A Req B Bal Sheet Stmt Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to account balances with a minus sign. Not all cells require input.) . .. ... ............r...............u* MIJKA COMPANY Accounting Equation for Year1 Assets Liabilities Stockholders' Equity %3D Event Common Retained Cash Stock Earnings 1. %3D + 2. %3D 3. %3D Ending balance %3D KReq A Req B Inc Stmt >
HomeworK
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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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 Inc
Stmt
Reg B Stmt of
Changes
Req B Bal
Sheet
Req A
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 Stmt of Changes >
Transcribed Image Text:HomeworK 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 $30,700, (2) paid cash expenses of $13,900, and (3) paid a $2,200 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 Inc Stmt Reg B Stmt of Changes Req B Bal Sheet Req A 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 Stmt of Changes >
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