Question

1 i Saved Help Save & Exit Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $31,000, (2) paid cash expenses of $14,000, and (3) paid a $2,300 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 Majka Company nces Complete this question by entering your answers in the tabs below. Required A Required B Inc Required B Stmt of Required B Bal Stmt Changes Sheet Prepare a balance sheet dated December 31, Year 1, for Majka Company. MAJKA COMPANY Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities < Prey 5 of 11 Hii Next >

Answer 1

MAJKA COMPANY
Balance Sheet
As of December 31, Year 1
Assets
Cash (31000-14000-2300)	$             14,700.00
Total Assets	$             14,700.00
Liabilities	-
Stockholder's Equity
Common Stock	$                           -
Retained Earnings (31000-14000-2300)	$             14,700.00
Total Stockholder's Equity	$             14,700.00
Total Liabilities and Stockholders' Equity	$             14,700.00