Answer only. Requireda. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriateaccount titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Select "NA" if there is noeffect on the "Accounts Titles for Retained Earnings". Enter any decreases to account balances with a minus sign.)p-MILEA, INC.okGeneral Ledger AccountsFor the Year Ended December 31, Year 1AssetsLiabilities+Stockholders' EquityAccounts Titles forRetained EarningsatEventAccountsReceivableCommonStockSalariesRetainedCash+PayableEarnings1.14,00014,000nt+2.+3.+4.rences=5.+6.O +14,000Totals14,000 Required information[The following information applies to the questions displayed below.]Milea Inc. experienced the following events in Year 1, its first year of operations:1. Received $14,000 cash from the issue of common stock.2. Performed services on account for $45,000.3. Paid the utility expense of $1,450.4. Collected $38,550 of the accounts receivable.5. Recorded $7,200 of accrued salaries at the end of the year.6. Paid a $1,100 cash dividend to the stockholders.Required

Accounting equation of the business says that total of assets should be equal to total liabilities…

Required 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. General Ledger Accounts For the Year Ended December 31, Year 1 Assets Liabilities Stockholders' Equity Accounts Titles for Common Salaries Payable Event Retained Accounts Receivable Retained Earnings Cash Stock Earnings 1. 14,000 14,000 %3D 2. %3D +] 3. %3D 4.

Required 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. General Ledger Accounts For the Year Ended December 31, Year 1 Assets Liabilities Stockholders' Equity Accounts Titles for Common Salaries Payable Event Retained Accounts Receivable Retained Earnings Cash Stock Earnings 1. 14,000 14,000 %3D 2. %3D +] 3. %3D 4.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11PB: Prepare journal entries to record the following transactions. Create a T-account for Unearned...

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