Question

Milka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events: 0 earned cash revenues of $29,800, (2) paid cash expenses of $13.600. and (3) paid a $1,900 cash dividend to its stockholders. These were the only events that affected the company during 2018. 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, 2018, for Mijka Company. Complete this question by entering your answers in the tabs below. Req A Req B Inc Stmt Req B Chg Se Reg B Bal Sheet Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to account balances with a minus sign.) Event MIJKA COMPANY Accounting Equation for 2018 Assets Liabilities - Stockholders' Equity Common Retained Cash Stock Earnings + + + + + Ending balance Req Inc Stmt>

Answer 1

(a) effects are recorded for each accounting event under the approprake ledger acway neading is as follows. MIKA COMPANY Arte y Equation for 2018 Event Assets - liability & stock holder's Equity cash Commanstod Retained Earning 3 29.800 $29.800 ($13,600) ($ 13, 6oo) 3 $1900) 03 1900 Ending $14300- $14.300 Balance 6 ( Income statement dated December 3, 2018 for miska company is as follows: _MIIKA COMPANY Income statment In the year ended 3 20) 8 29.800 Revenue less operating expenses cash expenses Net Income 13,600 16.200 bij A statment of changes in stockholderis equity dated December 31 2018 fay Miska Company statment of Equity Begining common stode plus common stock issued Ending common stock Begining retained Earnings Add: Net Income less Dividend paid (1900) Ending Retained Earnings Eachtrings 14,300 Total stockholders Equity 14. 300 16, 200

[blir a balana sheet dated December 31, 2018 is as I follows:- mijlca company Balance sheet As of December 31, 2018 Assets 14300 1 14 200 Total Aseets liabilities stock holden Equity comman stod Reteaned Earning Total stock holder's is quity Total liability and stockholderest Equity 14300 14 360 14300